E13-22 (similar to) Question Help Jason Basset is the managing partner of a business that has just finished building a 60-room motel. Basset anticipates that he will rent these rooms for 12.000 nights next year (or 12,000 room-nights). All rooms are similar and will rent for the same price. Basset estimates the following operating costs for next year: (Click the icon to view the operating costs.) (Click the icon to view additional information.) Read the requirements. Requirement 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? Begin by selecting the formula, then enter the amounts and solve for the room price per night. = Price per room-night per room-night i Data Table - X i Requirements - X $ 3 per room-night 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? 2. Basset's market research indicates that if the price of a room-night determined in requirement 1 is reduced by 5%, the expected number of room-nights Basset could rent would increase by 5%. Should Basset reduce prices by 5%? Show your calculations. Variable operating costs Fixed costs Salaries and wages Maintenance of building and pool Other operating and administration costs 182.000 45,000 217,000 444,000 $ Total fixed costs Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Print Done A parts 4 remaining Clear All Check Answer E13-22 (similar to) Question Help Jason Basset is the managing partner of a business that has just finished building a 60-room motel. Basset anticipates that he will rent these rooms for 12.000 nights next year (or 12,000 room-nights). All rooms are similar and will rent for the same price. Basset estimates the following operating costs for next year: (Click the icon to view the operating costs.) (Click the icon to view additional information.) Read the requirements. Requirement 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? Begin by selecting the formula, then enter the amounts and solve for the room price per night. = Price per room-night per room-night i Data Table - X i Requirements - X $ 3 per room-night 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? 2. Basset's market research indicates that if the price of a room-night determined in requirement 1 is reduced by 5%, the expected number of room-nights Basset could rent would increase by 5%. Should Basset reduce prices by 5%? Show your calculations. Variable operating costs Fixed costs Salaries and wages Maintenance of building and pool Other operating and administration costs 182.000 45,000 217,000 444,000 $ Total fixed costs Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Print Done A parts 4 remaining Clear All Check