• Culinary Delights Catering wants to understand how its food preparation costs behave relative to the number of events catered.
• Data Points:
  • Month 1: Total Costs: $50,000, Number of Catered Events: 25
  • Month 6: Total Costs: $90,000, Number of Catered Events: 45
• Tasks:
  • Use the High-Low Method to calculate the variable cost per event and fixed costs.
  • Formulate a cost equation based on your findings.
  • Estimate the total costs for a month with 60 events planned.
  • Provide insights on cost management for large-scale event planning.