You are a restaurant manager, and you are given two banquet function options on a same day

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You are a restaurant manager, and you are given two banquet function options on a same day. You have a daily fixed cost of $ 5,000. Determine which banquet option we should accept given following information. Explain why. Show your work to receive full points.  

Banquet Option 1

- $20 Meal per person

- 200 guests

- Variable cost

    · Food cost : $4.00

    · Wage cost: $3.00

    · Other variable cost: $3.00

 Banquet Option 2

- $15 Meal per person

- 300 guests

- Variable cost

    · Food cost : $3.00

    · Wage cost: $2.00

    · Other variable cost: $1.00