Please provide some help on these questions!

Maria Chavez owns a catering company that serves food and beverages at parties and business functions. Chavez's business is seasonal, with a heavy schedule during the summer months and holidays and a lighter schedule at other times. One of the major events Chavez's customers request is a cocktail party. She offers a standard cocktail party and has estimated the cost per guest as follows: Food and beverages Labor (0.5hrs @ $10.00/hr) Overhead (0.5hrs @ $13.98/hr) Total Cost Per Guest $15.00 $ 5.00 $ 6.99 $26.99 The standard cocktail party lasts three hours and Chavez hires one worker for each six guests, so that works out to one-half hour of labor per guest. These workers are hired only as needed and are paid only for the hours they actually work. When bidding on cocktail parties, Chavez adds a 15% markup to yield a price of about $31 per guest. She is confident about her estimates of the costs of food and beverages and labor but is not as confident with the estimate of overhead cost. The $13.98 overhead cost per labor-hour was determined by dividing total overhead expenses for the last 12 months by total labor-hours for the same period. Monthly data concerning overhead costs and labor-hours follow: Month January February March April May June July August September October November December Total Labor-Hours Overhead Expenses 2.500 $ 55,000 2.800 $ 59,000 3,000 $ 60,000 4,200 $ 64,000 4,500 $ 67,000 5,500 $ 71,000 6,500 $ 74,000 7,500 $ 77,000 7,000 $ 75,000 4,500 $ 68,000 3,100 $62,000 6,500 $ 73.000 57.600 $805.000 Chavez has received a request to bid on a 180-guest fund-raising cocktail party to be give next month by an important local charity. The party would last the usual three hours. She would like to win this contract because the guest list for this charity event includes many prominent individuals that she would like to land as future clients. Maria is confident these potential customers would be favorably impressed by her company's services at the charity event. Required: 1. Estimate the contribution to profit of a standard 180-guest cocktail party if Chavez charges her usual price of $31 per guest. (In other words, by how much will her overall profit increase?) 2. How low could Chavez bid for the charity event in terms of a price per guest and still not lose money on the event itself? 3. The individual who is organizing the event has indicated that he has already received a bid under $30 from another catering company. Do you think Chavez should bid below her normal $31 per guest price for the charity event? Why or why not