Long range budget Annual budget Achievement budget Operations budgets Cash budgets Capital expenditures Capital budget Line item Unfavorable variance Significant variance Flexible budget Cash budgeting Cash flow Accounts receivable aging report Write offs Undercapitalized Fraud Robbery Over (cash bank) Short (cash bank) Collusion Buddy puncing Test Your Skills 1. Identify the specific type of budget longrange Annual Achievement that would best address each of the following questions a full service hotel manager would like to answer. Type of Budget Questiorn How much will we d for front desk agents next (b) What will be our labor costs in the third quarter of next year? (c) What will be my rooms renovation costs in four years when all guest room furniture must be replaced What is our best estimate of next year's rooms revenue? How much sales tax will we collect next week? ( What will be the amount of our guest room supplies purchases next yea )How many guest rooms will we sell next year? (h) How many guest rooms will we sell next week? 6) ) What will be the cost of replacing the hotel's HVAC (heating/ventilation and air G) What is our best estimate of next year's food and beverage revenue? conditioning) system five years from now? 89% Page 440 of Sol kindle