The university's Wildcat Lair has been reporting losses in past months. In July, for example, the loss was $4,700: Revenue $ 71,000 Expenses Purchases of prepared food $18,460 Serving personnel 34,720 Cashier 5,100 Administration 9,940 University surcharge 5,680 Utilities 1,800 75,700 Loss $(4,700) The Lair purchases prepared food directly from University Food Services. The charge varies proportionately with the number and kind of meals served. Personnel who are paid by the Lair serve the food, tend the cash register, bus and clean tables, and wash dishes. The staffing levels in the Lair rarely change; the existing staff can usually handle daily fluctuations in volume. Administrative costs are primarily the salaries of the Lair manager and her office staff. The university charges the Lair a surcharge of 8% of its revenue. Utility costs are the costs of cooling, heating, and lighting the Lair during its normal operating hours. The university's management is considering shutting down the Lair because it has been operating at a loss. Determine the fixed and variable expenses of the Wildcat Lair and the most likely cost driver for each variable expense. (If there is no cost driver, select NA, all boxes must be filled to be correct.) Variable / Fixed Cost Driver Purchases of prepared food Serving personnel Cashier Administration University surcharge Utilities LINK TO TEXT LINK TO TEXT Write out the cost function for running the Wildcat Lair. Cost Formula: Total Cost = $ LINK TO TEXT LINK TO TEXT Estimate the profit or loss for August if the revenues of the Lair increase to $79,500. (Show a loss preceded by a minus sign, e.g. -500.) Profit/loss for August: $