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Joshua Wong has provided you with the details of his restaurant costs for the months of Oct, Nov, and Dec 2019. Oct 10.000 Number of
Joshua Wong has provided you with the details of his restaurant costs for the months of Oct, Nov, and Dec 2019. Oct 10.000 Number of guests Nov 17,000 Dec 21.000 $ Food cost Beverage cost Salaries and wages Employee benefits Direct operating expenses Music and entertainment Marketing expenses Utility services Repairs and maintenance Administrative expenses Occupancy Depreciation Interest cost $ 35,000 4,000 23,960 , 125 6,056 1,070 2,912 4,077 1,630 5,570 10,000 3,400 7,200 $ 59,500 6,800 27,460 5,265 8,156 1,070 3,262 5,477 1,840 5,570 10.000 3,400 7,200 73,500 8,400 29,460 345 9,356 1,070 3,462 6,277 1,960 5,570 10.000 3,400 7,200 Total costs 110,000 145,000 165,000 Required: Use the High-low Method to separate the mixed costs into both its variable and fixed components. (20 marks) Note: Show your workings and present your answers clearly
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