Exercise 2-7A Fixed versus variable cost behavior LO 2-1 Fanning Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $70,000 per concert. Required a. What are the total band cost and the cost per person if concert attendance is 5,000.5,500.6,000, 6.500, or 7,000? b. Is the cost of hiring the band a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Required B What are the total band cost and the cost per person if concert attendance is 5,000, 5,500, 6,000, 6,500, or 7,000? (Round "Cost per person" answers to 2 decimal places.) Number 5.000 5,500 6,000 6,500 7.000 attending Total cost of concert Cost per person Required B > Exercise 2-7A Fixed versus variable cost behavior LO 2-1 Fanning Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $70,000 per concert Required a. What are the total band cost and the cost per person if concert attendance is 5,000, 5,500, 6,000, 6,500, or 7.000? b. Is the cost of hiring the band a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Required B Is the cost of hiring the band a fixed or a variable cost? Since the cost of hining a band remains at regardless of the number attending it in a