Instructions: Assume you work in the accounting department of Caesars Entertainment and your supervisor, Logan Lacy,...
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Instructions: Assume you work in the accounting department of Caesars Entertainment and your supervisor, Logan Lacy, provides you with the above information and asks you to use the What-if Analysis tool in Excel to analyze sales price, volume, and profit related to the Julius Tower. For the What-if Analysis: Go to Learning Objective 7 in Chapter 7 of the textbook and follow the instructions - How to Use the "What-If" Analysis to Create a Data Table The profit calculation should be for a one-month period using Caesars' information above for the Julius Tower (i.e., after the renovation). Sales price is the sales price per room per night - use a range of $50 to $200 in increments of $10. Volume is the number of hotel room nights in a month, assuming 30 days per month - use a range of 1,000 to 20,000 in increments of 1,000. Perform the above What-If Analysis in Excel and think about Logan's questions below. Then, write a memo to Logan in Word summarizing your findings and providing your responses to Logan's questions. 1. Assuming costs remain unchanged, in order for Julius Tower to break even: a. How many hotel room nights need to be booked per month at $150 per room night? b. What sales price per room night needs to be charged for 16,000 room nights per month? (Hint: Use the What-If Analysis data table to identify the break-even point in the respective column (sales price per room night) or row (number of hotel room nights). Then, provide your answer as a range of from the data table such as, Julius Tower needs between #### and #### hotel room nights per month booked at $150 to break even.) Instructions: Assume you work in the accounting department of Caesars Entertainment and your supervisor, Logan Lacy, provides you with the above information and asks you to use the What-if Analysis tool in Excel to analyze sales price, volume, and profit related to the Julius Tower. For the What-if Analysis: Go to Learning Objective 7 in Chapter 7 of the textbook and follow the instructions - How to Use the "What-If" Analysis to Create a Data Table The profit calculation should be for a one-month period using Caesars' information above for the Julius Tower (i.e., after the renovation). Sales price is the sales price per room per night - use a range of $50 to $200 in increments of $10. Volume is the number of hotel room nights in a month, assuming 30 days per month - use a range of 1,000 to 20,000 in increments of 1,000. Perform the above What-If Analysis in Excel and think about Logan's questions below. Then, write a memo to Logan in Word summarizing your findings and providing your responses to Logan's questions. 1. Assuming costs remain unchanged, in order for Julius Tower to break even: a. How many hotel room nights need to be booked per month at $150 per room night? b. What sales price per room night needs to be charged for 16,000 room nights per month? (Hint: Use the What-If Analysis data table to identify the break-even point in the respective column (sales price per room night) or row (number of hotel room nights). Then, provide your answer as a range of from the data table such as, Julius Tower needs between #### and #### hotel room nights per month booked at $150 to break even.)
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Answer rating: 100% (QA)
To perform the WhatIf Analysis in Excel as instructed you would typically follow these steps 1 Set Up the Data Table in Excel Create a table with colu... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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