Problem 2 Joseph, the room's department manager of West Coast Inn Hotel, is preparing a condensed 20X7 annual budget. he has the following information upon which to base his estimate: Estimated occupancy is 85% Total hotel rooms: 200 ADR: $60 Labor Variable: $7 per room Labor Fixed: $150,000 annually Other operating expenses: $2.50 per room Hotel is open 365 days a year Required: 1. Complete the following condensed budget for the rooms department. 2. The West Coast Inn's management team requires room's departmental profit of at least $2,000,000 and the profit margin of 80%. Will Joseph's condensed budget projections be acceptable by the hotel's management team? Please provide calculations to support your answer. West Coast Inn Hotel Rooms Department Budget For the year of 20X7 Sales Labor Costs: Variable Fixed Other Operating Expenses Department Income