Instructions: Assume you work in the accounting department of Caesars Entertainment and your supervisor, Logan Lacy,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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.)
Expert Answer:
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:
Students also viewed these accounting questions
-
PROJECT COMMUNICATION MANAGEMENT IN A GLOBAL VIRTUAL ENVIRONMENT Martina Murawski Communication Plan Meeting the data needs of project stakeholders is the central goal of the Communication Management...
-
It would be useful to perform descriptive summary statistics to describe and summarise the existing dataset in a meaningful way. Not all provided data would need to be described, as the identified...
-
Selected transactions for Corp Corporation during its first month in business are presented below: Sept. 1 Issued common stock in exchange for $30,000 cash received from investors. 5 Purchased...
-
Explain factors governing recruitment?
-
Let A be an m n matrix. (a) Show that ||A||2 ||A||F. (b) Under what circumstances will ||A||2 = ||A||F?
-
Pineapple Beach Hotel Co. (Pineapple) operates a hotel providing accommodation, leisure facilities, and restaurants. Its year end was April 30, 2023. You are the audit senior of Berry & Co. and are...
-
From a lessee's standpoint, leases are classified as finance or operating leases. What criteria are used to identify a finance lease?
-
Investment advisors estimated the stock market returns for four market segments: computers, financial, manufacturing, and pharmaceuticals. Annual return projections vary depending on whether the...
-
The market has an expected return of 13.20% and variance of 0.0056. The T-bill rate is 4%. Stock XYZ has a variance of o.o840and a covariance with the market of 0.0195. What is the expected return of...
-
Find the shortest distance from Vertex A to Vertex F in the digraph. 6 A C 2 E 8
-
Explain the terms "Omitted variable bias (OVB)", "Reverse causality" and "Survivorship bias/selection bias". Please provide me with an example of each term. After you study those three term, explain...
-
Describe how a nursing facility might go about marketing itself and the services it provides to the community. When might management use a public relations firm? provide a details answer with...
-
1. Why can exercising stock options can create cash flow problems for managers at the exercise date? What is an alternative to this problem? 2. Please answer the following questions about defined...
-
Analyze three different networks found in your selected organization. Evaluate how each of the three networks might inform decision making in leadership and management. Recommend how the leadership...
-
This week you will submit a course project topic selection and sources to be used for your final project paper. The Writing Guide will be a helpful starting point for your research , so refer to it...
-
What is mentoring? What is coaching? Where the concepts of mentoring and coaching overlap and how are they different? Should the terms mentoring and coaching be used interchangeably? When might a...
-
You are a Loan Officer with an Investment Bank. Today you need to set your lending parameters. They are: LTV: 55% 10 Year T-Bill: TBD Rate Markup: 300 Basis Points Term: 30 Years Amortization: 30...
-
At the end of its fiscal year, Berwyn Cleaners trial balance is as follows. The following information is also available: a. A study of the companys insurance policies shows that $680 is unexpired at...
-
Alberta Company operates a large discount store and uses the retail method to estimate the cost of ending inventory . Management suspects that in recent weeks there have been unusually heavy losses...
-
Keeper Corporations income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended...
-
Turbo Corporation had net income of \(\$ 30,000\) and other comprehensive income of \(\$ 0\) prior to the following two adjustments: Turbo Corporation discovered it has an unrealized holding loss of...
-
Lance Co. purchased 100 shares of Mallard common stock at \$20 per share on March 15, 2020. Mallard declared and paid a dividend of \(\$ 1.50\) per share in 2020. The market price on December 31,...
-
An investor purchased 100 shares of Mallard common stock at \(\$ 20\) per share on March 15, 2020. On December 31, 2020, the stock was quoted at \(\$ 19\) per share and declared and paid a dividend...
Study smarter with the SolutionInn App