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Analysis of Mixed Costs in a Pricing Decision (total points 16 points) Note: This is an individual effort, but you may conceptually how this may be approached. 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: Labor (0.5 hrs. $10.00/hr.). . . .5.00 Overhead (0.5 hrs. $13.98hr)... Total cost per guest . . . . . . . . . $26.99 6.99 The standard cocktail party lasts three hours and Chavez hires one worker for every 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