{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T09:08:21-04:00", "answer_date": "2024-06-28 09:08:21", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4280080", "url": "\/study-help\/questions\/the-selenas-hotel-opens-365-days-consists-of-an-80-4280080", "question_creation_date_js": "2024-06-28T09:08:21-04:00", "question_creation_date": "Jun 28, 2024 09:08 AM", "meta_title": "[Solved] The Selena's Hotel, opens 365 days, consi | SolutionInn", "meta_description": "Answer of - The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel and a 60 seats coffee shop. Tamika, the Managing Dir | SolutionInn", "meta_keywords": "selena,s,hotel,opens,365,days,consists,80,rooms,60,seats,coffee", "question_title_h1": "The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel and a 60 seats coffee shop. Tamika, the Managing Director, provides you with", "question_title": "The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel", "question_title_for_js_snippet": "The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel and a 60 seats coffee shop Tamika, the Managing Director, provides you with the following information i Of the 80 rooms 60 are doubles and 20 are singles ii The doubles are sold for $180 each and the singles are sold for $90 iii Forecast occupancy is 84 for doubles and 78 for singles iv The average occupancy per room is 1 8 (only one person stays in a single room and two persons stay in a double room) v 40 of those guests staying in the double rooms and 20 of the guest staying in the single rooms have breakfast in the coffee shop The average check is $5 80 (There is no walk in business for the coffee shop) vi The lunch and dinner have seat turnover and average checks as shown below Days Lunch Dinner Turnover Av Ck Turnover Av Ck Mon Fri 1 25 $5 20 1 0 $10 20 Sat 0 5 7 50 1 0 12 50 Sun 1 5 8 00 5 15 00 vii The first day of the year for which you are to prepare the budget is a Monday viii The food cost percentage is estimated to be 35 ix The labour cost percentages are as follows Rooms 20 Food 32 x Other direct operated expenses include Rooms 10 Food 12 xi Undistributed operating expenses are as follows $100, 000 of fixed expenses and the remainder is 10 of the total revenue xii Other fixed costs include the followings Property taxes $30,000 Depreciation $60,000 Interest $50,000 xiii Selena's Hotel pays tax at a rate for 30 per year You are required to prepare the a Prepare the operating budget for the year, (your answer should be tabulated) b As a student of management accounting you were asked to prepare a report for management based on the figures in the budget and explain to management how, giving examples, they can improve on the business' profitability ", "question_description": "

The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel and a 60 seats coffee shop. Tamika, the Managing Director, provides you with the following information:<\/p>

i. Of the 80 rooms 60 are doubles and 20 are singles<\/p>

ii. The doubles are sold for $180 each and the singles are sold for $90<\/p>

iii. Forecast occupancy is 84% for doubles and 78% for singles<\/p>

iv. The average occupancy per room is 1.8 (only one person stays in a single room and two persons stay in a double room).<\/p>

v. 40% of those guests staying in the double rooms and 20% of the guest staying in the single rooms have breakfast in the coffee shop. The average check is $5.80. (There is no walk-in business for the coffee shop).<\/p>

vi. The lunch and dinner have seat turnover and average checks as shown below: Days Lunch Dinner Turnover Av. Ck. Turnover Av. Ck. Mon - Fri 1.25 $5.20 1.0 $10.20 Sat 0.5 7.50 1.0 12.50 Sun 1.5 8.00 .5 15.00<\/p>

vii. The first day of the year for which you are to prepare the budget is a Monday<\/p>

viii. The food cost percentage is estimated to be 35%<\/p>

ix. The labour cost percentages are as follows:<\/p>

Rooms: 20%<\/p>

Food: 32%<\/p>

x. Other direct operated expenses include:<\/p>

Rooms: 10%<\/p>

Food: 12%<\/p>

xi. Undistributed operating expenses are as follows:<\/p>

$100, 000 of fixed expenses and the remainder is 10% of the total revenue<\/p>

xii. Other fixed costs include the followings:<\/p>

Property taxes $30,000<\/p>

Depreciation $60,000<\/p>

Interest $50,000<\/p>

xiii. Selena's Hotel pays tax at a rate for 30% per year.<\/p>

You are required to prepare the:<\/p>

a. Prepare the operating budget for the year, (your answer should be tabulated). <\/p>

b. As a student of management accounting you were asked to prepare a report for management based on the figures in the budget and explain to management how, giving examples, they can improve on the business' profitability.<\/p>", "transcribed_text": "", "related_book": { "title": "Fundamentals Of Statistics", "isbn": "978-032184460, 032183870X, 321844602, 9780321838704, 978-0321844606", "edition": "4th Edition", "authors": "Michael Sullivan III", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/445.jpg", "uri": "\/textbooks\/fundamentals-of-statistics-4th-edition-445", "see_more_uri": "" }, "free_related_book": { "isbn": "0367022478", "uri": "\/textbooks\/hong-kongs-economic-and-financial-future-1st-edition-978-0367022471-303828", "name": "Hong Kongs Economic And Financial Future", "edition": "1st Edition" }, "question_posted": "2024-06-28 09:08:21", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/marybeth-jones-is-the-controller-at-patterson-supply-company-a", "description": "Marybeth Jones is the controller at Patterson Supply Company, a publicly traded distributor of floral supplies. It is the end of the third quarter and Marybeth is working under a deadline to get the...", "stars": 3 }, { "url": "\/study-help\/psychology\/2-appreciate-the-cognitive-and-social-factors-that-influence-the-1982463", "description": "2. Appreciate the cognitive and social factors that influence the development of effective interviewing methods for various vulnerable populations", "stars": 3 }, { "url": "\/scora-inc-is-preparing-its-master-budget-for-the-quarter", "description": "Scora, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $ 50 per unit. Budgeted sales for the next four months follow. Prepare a sales budget for...", "stars": 3 }, { "url": "\/study-help\/questions\/e-describe-four-or-five-key-business-risks-related-to-9887506", "description": "e. Describe four or five key business risks related to the client's business and industry. f. What notable accounting considerations are there for companies in this industry? g. What legal or...", "stars": 3 }, { "url": "\/study-help\/questions\/given-the-following-year-12-balance-sheet-data-for-a-4368134", "description": "Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 Total Current Assets 150,000 Total Fixed Assets 250,000 Total Assets $400,000 Accounts...", "stars": 3 }, { "url": "\/study-help\/questions\/the-postclosing-trial-balance-at-30-june-2020-of-payneham-6191182", "description": "The post-closing trial balance at 30 June 2020 of Payneham Professional Services is shown below. Transactions completed during the year ended 30 June 2021 are summarised below: 1. Collections on...", "stars": 3 }, { "url": "\/study-help\/questions\/a-b-c-1-an-object-moves-along-the-line-893215", "description": "A B C 1) An object moves along the line from point 1 to point 2 in time t. 2 a) Suppose that the object is speeding up. Which of the labeled points A, B, or C could correspond to the location of the...", "stars": 3 }, { "url": "\/study-help\/questions\/harry-hype-has-5000-to-spend-on-advertising-a-new-4911216", "description": "Harry Hype has $5,000 to spend on advertising a new kind of dehydrated sushi. Market research shows that the people most likely to buy this new product are recent recipients of M.B.A. degrees and...", "stars": 3 }, { "url": "\/study-help\/questions\/1-a-source-of-yellow-light-570-nm-892591", "description": "1. A source of yellow light ( = 570 nm) produces interference through two narrow slits separated by a distance of 0.01cm. A screen is placed 3m away. a. How far from the central max is the fifth...", "stars": 3 }, { "url": "\/study-help\/questions\/you-are-revising-your-companys-talent-acquisition-strategy-to-make-5076863", "description": "You are revising your company's talent acquisition strategy to make it more competitive and appealing to potential candidates. Part of your strategy involves clearly presenting the compensation...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/miguel-is-a-brand-manager-facing-a-difficult-decision-the-4280079", "next": "\/study-help\/questions\/what-is-the-name-of-resource-estimation-tooltechnique-where-you-4280081" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "The Selena's Hotel, opens 365 days, consists of an 80 rooms hotel", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-selenas-hotel-opens-365-days-consists-of-an-80-4280080" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }} }