Problem 3 The Tong Lee Inn had total revenues of $600,000 for the month of June. Assume that the Tong Lee Inn's percentages for June were the same as the comparative results of operations information shown in Exhibit 8 for 2013. Required: Determine the amount of each of the following for June: 1. Rooms revenue 2. Total rooms expenses 3. Utilities 4. Administrative and general expenses 5. Food and beverage departmental income 6. Total food and beverage expenses Exhibit 8 Comparative Results of Operations 2013 2012 Percent of Percent of Revenue Revenue 69.5% 24.8 4.4 1.3 100.0% 69.2% 25.1 4.4 1.3 100.0% Revenue Rooms Food and Beverage Other Operated Departments Rentals and Other income Total Revenue Departmental Expenses Rooms Food and Beverage Other Operated Departments Total Departmental Expenses Total Departmental Income 26.4% 72.8 71.9 39.5% 60.5% 26.6% 73.7 72.5 40.1% 59.9% 8.4% 8.1 4.5 3.7 24.6% 35.8% Undistributed Operating Expenses Administrative and General Sales and Marketing Property Operations and Maintenance Utilities Total Undistributed Expenses Gross Operating Profit Management Fees Income Before Fixed Charges Fixed Charges Property and Other Taxes Insurance Total Fixed Charges Net Operating Income** 8.6% 8.2 4.6 3.8 25.2% 34.7% 3.3% 31.4% 3.3% 32.5% 3.6% 1.1 4.7% 27.9% 3.6% 1.1 4.7% 26.7% Percentage of Occupancy Average Daily Rate RevPAR Average Size (Rooms) 72.3% $152.40 $110.26 212 71.1% $146.32 $104.10 212 * Expressed as a percent of departmental revenue. ** Before deduction for rent