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can you solve this problem for me ? You are in charge of the West Baden Springs Hotel in West Baden, Indiana (awesome old hotel
can you solve this problem for me
You are in charge of the West Baden Springs Hotel in West Baden, Indiana (awesome old hotel by the way). You are reviewing budgets and know the hotel has variable costs, fixed costs and mixed costs. Variable costs are $40 per room per night, fixed costs for the month are $400,000 and mixed costs bounce around depending on the number of visitors who stay per month. Room-nights per month and Mixed costs for the past two summers look like this: June 2021 July 2021 August 2021 June 2022 July 2022 August 2022 Number of room nights 6,450 7,675 9,028 6,596 7,875 8,990 Mixed Costs $874,000 $990,300 $995,024 $866,070 $955,625 $999,428 Using the Hi-Lo method, calculate the monthly fixed cost and the variable cost per room-night for the Mixed Costs (for the variable portion round your per room-night answer to the nearest penny, for the fixed portion, round your answer to the nearest dollar) (show all of your work and circle your answers, 6 points) If you anticipate having 8,152 room-nights in the hotel in July 2024, how much do you forecast Mixed Costs to be ? (2 points) Ifthe average number of room-nights each month is 7,750, what is the average total cost per room-night ? (round to the nearest penny, this includes, total variable, total fixed and the mixed cost) (2 points) Bonus (0.5 point) If you want to have a profit of 30% above cost, what price should you charge for each room? (Show your work)
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