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Jason Blodgett is the managing partner of a business that has just finished building a 60-room motel. Blodgett anticipates that he will rent these rooms for 12,500 nights next year (or 12,500 room-nights). All rooms are similar and will rent for the same price. Blodgett 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 Blodgett 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 Choose from any list or enter any number in the input fields and then click Check Answer ? 4 parts remaining Clear All Check Answer Jason Blodgett is the managing partner of a business that has just finished building a 60-room motel. Blodgett anticipates that he will rent these rooms for 12,500 nights next year (or 12,500 room-nights). All rooms are similar and will rent for the same price. Blodgett estimates the following operating costs for next year Click Read the fion.) Data Table Requiren percentag $ 4 per Begin by room-night Variable operating costs Fixed costs Salaries and wages Maintenance of building and pool $ n-night om- 185,000 48,000 217,000 450,000 Other operating and administration costs Total fixed costs $ Choose fro Print 4 Done parts remain Jason Blodgett is the managing partner of a business that has just finished building a 60-room motel. Blodgett anticipates that he will rent these rooms for 12,500 nights next year (or 12,500 room-nights). All rooms are similar and will rent for the same price. Blodgett estimates the following operating costs for next year: B Click the icon to view the operating costs.) (Click the icon to view additional information.) Read More Info Reqy perce Begin The sital invested in the motel is $1,100,000. The partnership's target return on investment is 25%. Blodgett expects demand for rooms to be uniform throughout the year. He plans to price the rooms at full cost plus a markup on full cost to eam Ight the target return on investment. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts remaining Clear All Check Answer Jason Blodgett is the managing partner of a business that has just finished building a 60-room motel. Blodgett anticipates that he will rent these rooms for 12,500 nights next year (or 12,500 room-nights). All rooms are similar and will rent for the same price. Blodgett estimates the following operating costs for next year: (Click the icon to view the operating costs. (Click the icon to view additional information) Read * Requirements Reqy perce Begid 1. What price should Blodgett charge for a room-night? What is the markup as a percentage of the full cost of a room-night? 2. Blodgett's market research indicates that if the price of a room-night ght determined in requirement 1 is reduced by 10%, the expected number of room-nights Blodgett could rent would increase by 5%. Should Blodgett reduce prices by 10%? Show your calculations Choo Print Done 4 parts Clear All Check Answer remaining
