Use the below case study to answer this question A.K Elit Ltd (AKE) is a family business that makes high quality furniture to order. The AK family owns all the shares in the business. As part of its commitment to training, AKE run an annual team building day for all 62 employees which is good for staff motivation. The factory is closed and the staff go off-site for the day. Group challenges are run which help develop team skills and improve communication I loved the team building day, we had great fun and it was better than being at work for the day. However I am not sure how useful it was to my job in the admin department Sue Admin department The production manager will retire soon. Like him, many of the production start have worked at AKE for many years. They enjoy their work and most stay until they retire Consequently, there are several possible candidates to take over as production manager, but none have management experience. Customer reviews say that the fumiture is made to a very high standard, however, they also suggest that the administration staff do not always deliver a good service. Complaints show that order processing is not always accurate. Recently, some customers have asked about the negative reviews when enquiring about possible purchases, A E7250 budget has been set aside for the team building day. The team building day will cost 37.50 per delegate. Other costs include Set up fee 650.25 Coach Hire 269.50 a). State the formula for calculating total costs. (1 mark) 1. Calculate the percentage of the budget remaining after the team building day Show your workings and answer to two decimal places. 19 marks] Use the space below to continue your answer to Question Ph. Cost per delegate Total Cost: Remaining training budget Percentage of remaining hudget