Daniel Jackson owns a catering company that prepares banquets and parties for individual and corporate functions throughout the year. Jackson's business is seasonal, with a heavy schedule during the summer and on year-end holidays and a light schedule the rest of the year. Fixed operating costs are incurred evenly throughout the year. One of Jackson's most requested functions is a cocktail party. Daniel has developed the following costs per person for a standard cocktail party: (a) Youranswer is correct. Based on absorption costing. what is Jackson's cost per person? Based on variable' costing. what is his cost per person? (Round answers to 2 decimal ploces; es. 15.25. Your answer is correct. Based on absorption costing, what is Jackson's cost per person? Based on variable costing, what is his cost per person? (Round answers to 2 decimal ploces, es. 15.25.) Jackson prices his cocktail parties by adding a 20% markup to his costs. What price will Jackson charge per person if he uses absorption costing? If he uses variable costing? (Round answers to 2 decimal places, eg. 15.25.) Jackson has been asked to bid on a 270-person cocktail party to be given next month. What is the minimum price he should bid for the party? Minimum price Jackson should bid for the party eTextbook and Media