A performance report for the Exeter hotel for the three months ending 30 June 2022 showed:...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A performance report for the Exeter hotel for the three months ending 30 June 2022 showed: Actual £ 579,500 213,500 100,000 Sales Revenue Variable Costs Fixed costs Profit Number of rooms occupied Sales Room Rate Variable Costs 266,000 6,100 Head Office Budget Assumptions 80% occupancy per month (30 days) £105 per night £25 per room per night Fixed/Overhead Costs £1,000 per night There is also a profit target for each hotel of £120,000 per month. Evaluate performance for the quarter to budget and provide recommendations for budgeting and cost management. A performance report for the Exeter hotel for the three months ending 30 June 2022 showed: Actual £ 579,500 213,500 100,000 Sales Revenue Variable Costs Fixed costs Profit Number of rooms occupied Sales Room Rate Variable Costs 266,000 6,100 Head Office Budget Assumptions 80% occupancy per month (30 days) £105 per night £25 per room per night Fixed/Overhead Costs £1,000 per night There is also a profit target for each hotel of £120,000 per month. Evaluate performance for the quarter to budget and provide recommendations for budgeting and cost management.
Expert Answer:
Answer rating: 100% (QA)
To evaluate the Exeter hotels performance for the three months ending 30 June 2022 we need to compare the actual results with the budgeted or target figures provided by the Head Office Lets break down ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The Munchkin Theater is a nonprofit organization devoted to staging theater productions of plays for children in Toronto, Canada. The theater has a very small full-time professional administrative...
-
Pick a company or brand or business on which to focus. What business is it inP Who are its direct and indirect competitors? Which in each category are the most relevant competitors?
-
A survey was conducted at a community college of 50 randomly selected students who dropped a course in the current semester to learn why students drop courses. "Personal" drop reasons include...
-
Suppose output Q is given by the Cobb-Douglas production function Q(K, L) = AK L 1 , where A and are positive constants and 0 < < 1. Show that if K and L are both multiplied by the same positive...
-
Complete the truth table to determine the truth value of the proposition in the last column. 14 (b~d) (bvd) b~ Ad b- byd b d
-
Air pollution control specialists in southern California monitor the amount of ozone, carbon dioxide, and nitrogen dioxide in the air on an hourly basis. The hourly time series data exhibit...
-
Sunbelt Iron Retail Selling Price $50.00 Retailer's Margin 25% Jobber's Margin 15% Wholesaler's Margin 20% Direct Factory Labor $3 per unit Raw Materials $2 per unit Administrative Overhead $2 per...
-
A receiver for base band digital data has a threshold set at instead of zero. Rederive (9.8), (9.9), and (9.11) taking this into account. If P(+A) = P(-A) = 1/2, find E b / N 0 in decibels as a...
-
Copyright Scenario Jim Clark, an artist in Birmingham, submitted his logo design for the Birmingham Cougars football team, and the Cougars used a logo design that was very similar to Clarks design...
-
Lemur Company is considering a project that has estimated annual net cash flows of \($35,000\) for six years and is estimated to cost \($150,000\). Lemurs hurdle rate is 8 percent. Determine the net...
-
What is the net present value of cash inflows of 30,000 in one year, 40,000 in two years, and 80,000 in three years if the opportunity cost of capital is 8 percent?
-
An investment opportunity that costs $40,000 generates $20,000 in cash inflows each of the next four years. What is the payback period for the investment?
-
A mother wants to put sufficient money in the bank to cover university expenses for her daughter in 15 years. She estimates that in 15 years $100,000 will be necessary to pay for university. The bank...
-
What is the value of a 10-year annuity in 10 years if the interest rate is 6 percent and each annuity payment is 100?
-
Create a new sheet and add the headings as shown (the date is a variable) In the General Ledger normal balances for accounts are POSITIVE. Create a macro, attached to two buttons, one on the top of...
-
The swap spread is the difference between the swap rate and the equivalent-maturity Treasury bond yield. Explain why a widening swap spread may be a signal of deteriorating economic conditions. Plot...
-
You, CA, have been working for Plener and Partners, Chartered Accountants (P&P), a mid-size CA firm, for three years. You have been assigned a new project for a long-term client of your firm, Oxford...
-
You, CA, have recently been assigned as audit senior for the audit of Open Arms Society (OAS), a not-for-profit organization set up three years ago to help integrate students with disabilities in...
-
Jan Leskewitch has approached you for advice on how to record transactions for her company. She has just started an Internet-based business in her basement and is surprised to see that she has a...
-
U.S. Industries has a subsidiary in Switzerland. The subsidiary's financial statements are maintained in Swiss francs (CHF). Exchange rates (\($/CHF)\) for selected dates are as follows: The...
-
Asda is a British supermarket chain owned by Wal-Mart Stores, Inc. Assume that the following data relate to Asda's activities for 2017 (in millions).. Exchange rates (\($/)\) during 2017 are:...
-
Massmart Holdings Ltd. is a South African subsidiary of Wal-Mart Inc., selling high volume, low margin branded consumer goods to customers in twelve countries in Africa. Massmart's accounts are...
Study smarter with the SolutionInn App