- - --- HD EVENT COSTING ASSIGNMENT INSTRUCTIONS OVERVIEW Caterers must project costs to cam a profit by using this formula: Overhead + Materials + Labor+ Profit - Price. Once costs are calculated, a caterer can create a formula sheet for yearly events INSTRUCTTONS For this assignment, you will use the formula above to complete the worksheet in class. Pricing Formula for Events Overhead + Materials + Labor + Profit - Price 1. Mrs. A projects a yearly $300,000 overhead cost. She has booked 300 events this year. What is the overhead per event? 2. Each event will have approximately 120 people. The total per serving is $7.50. Each person will eat about two servings. What is the materials calculation? (HINT: 120 X 2) 240 3. Mrs. A focuses on buffet style service. She only needs two part-time assistants to work each event for 7 hours. She pays $15 hour. What is the labor cost? 4. Mrs. A needs to make the profit of $300,000 this year. What profit does she need to make per event? 5. Fill in the calculation based on your numbers so far: _loverhead) + _(materials) + labor + profit PRICE 6. Round up the number 7. Now take your rounded up number and divide by projected guests per event (120) 8. What is the price per person? 9. If Mrs. A has an event for 300 guests, what would the projected calculations be based on your fact sheet? (Overhead) + _(materials) + ______(labor) + (profit) price HINT: The overhead and profit figures stay the same, but materials and labor costs double. 10. Take the calculation and round the number up = 11. Divide by the number of guests (300). What is the per person price for this event? 12. Create your own calculation below. If you were running a catering business, what would your overhead costs be this year? How many events do you have planned? How many guests per event? You only need to calculate for one event. Show your work and explain your processes. (Overhead) + (materials) + __ _(labor) + (profit) = price