Kenneth Clark owns a catering company that prepares banquets and parties for individual and corporate functions throughout the year. Clark'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 Clark's most requested functions is a cocktail party. Kenneth has developed the following costs per person for a standard cocktail party: (a) Your answer is correct. Based on absorption costing. what is Clark's cost per person? Based on variable costing. what is his cost per person? (Round answers to 2 decimal ploces, es. 15.25 . Based on absorption costing, what is Clark's cost per person? Based on variable costing, what is his cost per person? (Round answers to 2 decimal places, eg. 15.25.) eTextbook and Media Attempts: 1 of 3 use (b) Clark prices his cocktail parties by adding a 14% markup to his costs. What price will Clark charge per person if he uses absorption costing? If he uses variable costing? (Round answers to 2 decimal places, es. 15.25.)