The Pirates Cove Inn had total revenues of $750,000 for the month of June. Assume that the Pirates Cove Inn’s percentages for June were the same as the comparative results of operations information shown in the exhibit below:

 

INDUSTRY AVERAGES 20X4 Revenue Rooms 69.5% % Food 24.8% Other Operated Departments 4.4% Rentals and Other Income 1.3% Total Revenue 100.0% Departmental Expenses Rooms 26.4% Food and Beverage 72.8% Other Operated Departments 71.9% Total Expenses 39.5% Undistributed Operating Expenses Administrative and General 8.4% Sales and Marketing 8.1% Property Operations and Managen 4.5% Utilities 3.7% Total Undistributed Expenses 24.7% Gross Operating Profit 35.8% Management Fees 3.3% Income Before Fixed Charges 32.5% Pirates Cove Inn Month of June Revenue Rooms Food Other Operated Departments Rentals and Other Income Total Revenue Departmental Expenses Rooms Food and Beverage Other Operated Departments Total Expenses Industry Average $ Undistributed Operating Expenses Administrative and General Sales and Marketing Property Operations and Management Utilities Total Undistributed Expenses Gross Operating Profit Management Fees Income Before Fixed Charges