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Adele, the manager of 'Adkins' hotel has the following data from last month sales: Room Nights (V) Average Price (P) Total Revenue Actual 375 $75

Adele, the manager of 'Adkins' hotel has the following data from last month sales:

Room Nights (V) Average Price (P) Total Revenue

Actual 375 $75

Budgeted 335 $70

Difference

a. What is the 'Price Variance' (PV) for this hotel? Is it favorable or unfavorable to the property?

b. What is the 'Volume Variance' (VV) for this hotel? Is it favorable or unfavorable to the property?

c. What is the 'Price-Volume Variance'(P-VV) for this hotel? Is it favorable or unfavorable to the property?

d. What is the 'Total Variance' for this hotel? Is it favorable or unfavorable to the property?

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