Use the following to answer questions: 
-(Table: Cakes) Look at the table Cakes. Pat is opening a bakery to make and sell special birthday cakes. She is trying to decide how many mixers to purchase. Her estimated fixed and average variable costs if she purchases one, two, or three mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. If Pat purchases three mixers and bakes 200 cakes per day, what is her average total cost?
Definitions:
Sales Forecast
Predictive analysis of future sales based on historical data, trends, and market analysis.
Budget Committee
A group responsible for coordinating the preparation of the budget, reviewing and approving budget proposals, and monitoring financial performance.
Master Budget
A master budget is a comprehensive financial planning document that combines all of an organization's individual budgets and plans into a single, unified plan.
High-Low Method
A mathematical method that uses the total costs incurred at the high and low levels of activity to classify mixed costs into fixed and variable components.
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