The Mica Motel opens 365 days a year. It is an 100-room motel with a 50-seat coffee shop.

Of the 100 rooms, 70 are doubles and 30 are singles.

The doubles are sold at $100 each night and the singles are sold at $80 each night.

Forecasted occupancy is 70% for doubles and 60% for singles.

The average occupancy per room is 1.6 (only one person stays in a single but two or more may stay in a double for $100ight).

40% of those staying in the singles and 20% of those staying in the doubles eat breakfast in the coffee shop. Assume there is no walk-in business for breakfast. The average check is $4.80.

The lunch and dinner business have seat turnovers and average check as follows:

The first day of the year for which you are to prepare the budget is Monday.

The food cost is 35%.

The labor cost is 20% for rooms and 32% for coffee shop.

Other direct expenses are 10% for rooms and 12% for coffee shop.

Undistributed operating expenses include $100,000 of fixed expenses and the remainder is 10% of total revenue.

Other fixed costs include Property Taxes $30,000, Depreciation $60,000, and Interest $50,000.

The motel's average income tax rate is 30% of income before income taxes.

Use 53 Mondays and 52 Tuesdays to Sundays for the year.

Round all numbers to the nearest 1.

Lunch Dinner Turnover Average Check Turnover Average Check Mon-Fri 1.25 $6.00 1.0 $10.75 Sat 0.5 $6.50 1.0 $12.50 Sun 1.5 $7.00 0.5 $11.25