• Prime Catering Services wants to understand its catering costs related to the number of events catered.
• Data Provided:
  • Event A: Total Costs: $20,000, Events Catered: 10
  • Event B: Total Costs: $30,000, Events Catered: 15
• Tasks:
  • Apply the High-Low Method to determine the variable cost per event and fixed costs.
  • Develop a cost equation.
  • Predict the total costs for catering 20 events.
  • Analyze the impact of offering premium catering services on costs and revenue.