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Draw a graph depicting the fixed cost

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A student association has hired a band and a caterer for a graduation party. The band will charge a fixed fee of $1 000 for an evening of music, and the caterer will charge a fixed fee of $600 for the party set-up and an additional $9 per person who attends. Snacks and soft drinks will be provided by the caterer for the duration of the party. Students attending the party will pay $5 each at the door.

Required

Question 1. Draw a graph depicting the fixed cost, the variable cost and the total cost to the student association for different attendance levels.

Question 2. Suppose 100 people attend the party. What will be the total cost to the student association? What will be the cost per person?

Question 3. Name there factors that will affect the classification of a cost as direct and indirect

Reference no: EM132595534

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