Answered step by step
Verified Expert Solution
Question
1 Approved Answer
House Corporatlon Board (HCB) of Tri-Gamma Sorority Is responsible for the operation of a two-story sorority house on the State University campus. HCB has set
House Corporatlon Board (HCB) of Tri-Gamma Sorority Is responsible for the operation of a two-story sorority house on the State University campus. HCB has set a normal capacity of 60 women. any glven point in time, Tur living elsewhere (e.q, in the freshman dorms on campus). HCB needs to set rates for the use there are 100 members of the chapter: 60 living i the house and the house for the coming year. The following costs are included in the fixed costs; food does not seem to vary budgeted: $240,000 fixed and $34,800 variable. The fixed costs are fairly insensitive to the number of women living in the house. Food is budgeted at $40,000 and s not responsible for chapter dues, party fees, pledging and initiation fees, and other social expenditures. greatly given the stated capacity. The variable expenses consist of telephone bills and some of the utilities. HCB Women living in the house eat 20 meals per week there and live in a two-person room. (All in-house members' rooms, bathroom facilities, etc., are on the second floor.) All members eat Monday dinner at the house and have full use of house facilities (e.g., the two lounges, kitchens, access to milk and cereal at any time, study facilities, and so on). HCB has traditionally set two rates: one for in-house members and one for out-of-house members. There are 32 weeks in a school year Required: Set charaing rates for the in-house and out-of-house members. For interim computations, camry amounts out to the nearest cent. Round vour final answers to the nearest dollar. Charging rate 4,012.96 In-house members per year 67.05 Xper year Qut-of-house members
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started