Sleepy Hollow Hotels Inc.(SH) operates two hotels in theMeto eion.ach hoeand rooms: standard room...
.10 An 80-room motel forecasts its average room rate to be $68.00 for next year at 75% Occupancy. The rooms department has a fixed wage cost of $186,000. Variable wage Cost for housekeeping is $9.00 an hour; it takes one-half hour to clean a room. Fringe benefits are 18% of total wages. Linen, laundry, sup- plies, and other direct costs are $2.75 per occupied room per day. The motel also has a 50-seat, limited-menu snack bar. Breakfast rev- enue is...
Question: Kim operates a hotel at and charges guests $60 per day . Included in this price is a free breakfast. Kim’s hotel has the capacity to rent 5,000 days per year. The hotel has the following costs: • Depreciation on the hotel is $60,000 per year. • Kim employs a maintenance person at an annual salary of $41,000 • Kim employs a cleaning person at an annual salary of $24,000. •Real estate taxes are $10,000 per year. •Costs for...
Prepare the pro forma income statement for a two-department company A hotel operation has 120 rooms and a 100-seat restaurant. Please prepare a pro forma income statement for the next year to determine the forecasted net income. Rooms department: In the previous year of operations the occupancy rate was 70% and the average room rate was $48. The GM is forecasting the occupancy rate to increase by 5% and the average room rate is to be increased by $4. Cost...
With locations ranging from the USA to China the grand 58 hotel chain is known for its indulgent luxury and sumptuous surroundings. This aura of old world elegance stands in stark contrast to its rather heavy emphasis. Yet it is this very approach that makes it possible for the Ritz Carlton to offer the legendary grandeur all guests expect during their stay A hotel's performance is the responsibility of the general manager and controller at each location worldwide. Local forecasts...
Please summarize this into a summary of the article Hotels Hurry to Raise Cash as Federal Aid Could End Some owners of smaller and private hotels must pay more for financing and take less for property sales Some hotel owners are faced with property sales at discounted prices and expensive financing now that federal aid is poised to expire. Larger hotel owners such as the publicly listed real-estate investment trusts have drawn down their credit lines and sold bonds, which...
The StackpoleStackpole Company retails two products: a standard and a deluxe version of a luggage carrier. The budgeted income statement for next period is as follows: LOADING... (Click the icon to view the budgeted income statement.)Read the requirements LOADING... . Requirement 1. Compute the breakeven point in units, assuming that the company achieves its planned sales mix. Begin by determining the sales mix. For every 1 deluxe unit(s) sold, standard units are sold. Determine the formula used to calculate the...
Alya Company manufactures curtains. To complete a curtain, Alya requires the following input: Direct material standard 3.5 square yards at $ 0.50 per yard Direct labor standard hours at $ 4.00 per hour Budgeted fixed cost per quarter is $ 6,000.00 Budgeted selling price $ 11.25 During the second quarter the company budgeted to produce and sell 400 curtains. 0.5 Actual information for the second quarter is provided below: Number of curtains made and sold 380 Selling price $ 11.81...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 350,000 lbs. 70,000 units $910,000 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost $ 0...
I don't know how to get the calculations for the standard quanity Paynesville Corporation manufactures and sells a preservative used in food and drug manufacturing. The company carries no inventories. The master budget calls for the company to manufacture and sell 124,000 liters at a budgeted price of $255 per liter this year. The standard direct cost sheet for one liter of the preservative follows. Direct materials (2 pounds @ $16) $ 32 Direct labor (0.5 hours @ $48) 24...
Testbank Exercise 2 Thrope, Inc. purchased 1,600 pounds of direct material at a price of $1.10 per pound. The standard price of the material is $1.22 per pound. Thrope used 2,000 pounds in production while the standard pounds allowed for actual production was 1,900. Calculate the direct materials price and quantity variances and indicate whether the variances are favorable or unfavorable Direct material price variance $ Direct material quantity variance Grantham Manufacturing Company makes oak rocking chairs. Budgeted sales are...