The Richardson Buffet offers an all-you-can-eat buffet meal for $32 per person. The restaurant employs ten salaried employees. Rent for the building, employee salaries, and other fixed costs for the restaurant are $234,600 per month when the restaurant serves meals up to 14,300 guests in that month. If the restaurant were to serve more than 14,300 guests in any given month, it would need to hire two additional servers and two additional kitchen staff for an additional fixed cost of $17,000 per month. The variable cost of food is $10 per guest. Read the requirements Requirements 1 What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? 2. If the restaurant were to serve 13,800 guests in May, what would be the: Estimated total cost? (Use the cost equation from Requirement 1.) b. Average cost per guest? If the restaurant were to serve 12,100 guests in June, what would be the: a. 3. Estimated total cost using the cost equation from Requirement 1? b. Estimated total cost using the average per guest cost from Requirement 2b? c. Why is there a difference in the two cost estimates? What is the restaurant's cost equation for estimating costs if the number of guests to be served is more than 14,300 guests per month? If the restaurant were to serve 14,900 guests in July, what would be the estimated total cost? (Use the cost equation from Requirement 4) 4. 5. Print Done Requirement 1. What is the restaurant's cost equation for estimating costs if the number of guests to be served is up to 14,300 guests per month? Requirement 2a. If the restaurant were to serve 13,800 guests in May, what would be the estimated total cost (Use the cost equation from Requirement 1.) If the restaurant were to serve 13,800 guests in May, the estimated total cost would be $ kitchen staff for an additional fixed cost of $17,000 per month. The variable cost of food is $10 per guest. yimuns to hare two addtional servers and two addit Read the requirements. Requirement 2b. If the restaurant were to serve 13,800 guests in May, what would be the average cost per guest? If the restaurant were to serve 13,800 guests in May, the average cost per guest would be $ Requirement 3a. If the restaurant were to serve 12,100 guests in June, what would be the estimated total co using the cost equation from Requirement 1? If the restaurant were to serve 12,100 guests in June, the estimated total cost using the cost equation from Requirement 1 would be S r in the adit fields and then continue to the next question. Requirement 3b. If the average per guest cost from Requirement 2b? restaurant were to serve 12,100 guests in June, what would be the estimated total cost using the If the restaurant were to serve 12, 100 guests in June, the estimated total cost using the average cost per guest from Requirement 2b would be $ Requirement 3c. Why is there a difference in the two cost estimates? V as volume changes V as volume decreases There is a difference in the two cost estimates because the average cost per guest due to the vof the buffet's costs. The fixed cost per unit while the variable cost per unit Requirement 4. What is the restaurant's cost equation for estimating costs if the number of guests to be served is more than 14,300 guests per month? Requirement 5. If the restaurant were to serve 14,900 guests in July, what would be the estimated total cost? (Use the cost equation from Requirement 4.) If the restaurant were to serve 14,900 guests in July, the estimated total cost using the cost equation from Requirement 4 would be $