Royal Catering offers full-service catering for events. Each event lasts approximately 8 hours. The company anticipates 150 events annually. They have invested $1,500,000 in their facilities and expect an ROI of 22%. The budgeted costs for the coming year are shown below:

Cost Item	Per Event ($)	Total ($)
Direct Materials (Food, etc.)	500	75,000
Direct Labor (Staff)	1,000	150,000
Variable Overhead	200	30,000
Fixed Overhead	-	300,000
Variable Selling & Admin Expenses	100	15,000
Fixed Selling & Admin Expenses	-	120,000

Required:

1. Calculate the total cost per event.
2. Determine the desired ROI per event.
3. Compute the target price per event.