Task 1 You have been asked to review the performance of the groups hotel in Scotland. You have in front of you the results for this year (based on some actual results and some forecasts to the end of this year): Quarter Sales Revenue ($) Profit/ Loss ($) 1 2 400 1,200 (280) 360 3 4 1,600 800 680 40 Total 4,000 800 Additional Information: o The total estimated number of guests (guest nights) for this year is 50,000, with each guest night being charged at the same rate. o The results follow a regular pattern; there are no unexpected cost fluctuations beyond the seasonal trading pattern. For next year, an increase in unit variable cost of 10 percent and a profit target for the hotel of $1 million is anticipated. These need to be incorporated into the hotels plans. Help the management at Viago by: o Calculating the total variable and total fixed cost of the hotel for this year. Show the provisional annual results for this year in total, showing the variable and fixed costs separately. Also, show the revenue and cost per guest. o Determining: The required revenue rate per guest to meet the profit target, if there is no increase in guests for the next year. The number of guests required to meet the profit target, if the required revenue rate per guest is not raised above this years level.