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I need help with my accounting excel homework; I am stuck The top left excel screen shot if where you start in the first worksheet
I need help with my accounting excel homework; I am stuck
The top left excel screen shot if where you start in the first worksheet called Hotel Operating Costs tab
Prompt:
Welcome to the case study of our newly opened upscale hotel. This luxurious property boasts stateoftheart amenities, elegant design, and a prime location. As part of understanding the financial aspects of hotel management, you are provided with a table listing various costs associated with the operation of this hotel.
Instructions:
Determine the Cost's Behavior: For each cost listed in the table, use the dropdown menu to identify whether it is a fixed, variable, or mixed cost based on its nature and how it is expected to behave relative to hotel occupancy levels.
Enter the Dollar Value: Input the estimated dollar value for each cost.
Identify the Cost Frequency: Use the drop down menu to determine whether each cost is incurred per month or per room.
Formatting for Financial Analysis: Format the Dollar Amount column in a way that is easy to read and suitable for financial analysis. This could include aligning all figures to the right, ensuring consistent decimal places, and using commas for thousands
The bottome left is the second worksheet called Maintenance & Repairs Detail Tab
Use the min and max formulas to find the high and low levels of activity in th table.
Note: you have to determine whether to search the cost $ column or the rooms serviced column.
Low Point
High Point
Highlight the rows that have the high and low data point in the table.
Use the highlow method to separate the variable and fixed costs:
Step : Find variable cost per unit per room serviced
Step : Find average fixed costs per month
Using the high point: FC per month
Using the low point: FC per month
Go back to the Hotel Operating Costs tab and fill in the VC per unit and FC per month for Maintenance and repairs.
You will need to use the final line on the table. One row for fixed costs. The other row for variable costs."
The bottom right excel worksheet which is the last step is call Breakeven Analysis
Asks you to calculate your findings from the previous tabs
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