Ning Caterers quotes a price of P940.80 per person for a banquet dinner. This price includes the 12% VAT and 20% service charge. The VAT is computed based on the food’s selling price plus the service charge. The service charge is computed based on the food’s selling price only. At what amount does Ning Caterers price the food? a. P710.77 c. P613 b. P700.00 d. P840 show the solution please

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Ning Caterers quotes a price of P940.80 per person for a banquet dinner. This price
includes the 12% VAT and 20% service charge. The VAT is computed based on the
food’s selling price plus the service charge. The service charge is computed based on
the food’s selling price only. At what amount does Ning Caterers price the food?
a. P710.77 c. P613
b. P700.00 d. P840

show the solution please

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