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The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel’s dining room sales volume based on the hotel’s anticipated guest-night count. The monthly equations (where Y equals the forecast number of meals to be served, and X equals the number of hotel guests) follow:                    Breakfast                 Y = 750+ 0.82 […]
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a. Budgeted liquor sales revenue at a banquet were 1,500 drinks at $5.00 each. Actual sales were 1,550 drinks at $4.80 each. Determine the price and sales volume variances. b. Banquet food sales revenue for a month were estimated to be 20,000 covers at $14.00 each. Actual sales were 21,500 customers at $13.50 each. Determine […]
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Balance sheet information for a resort hotel reflects the changes to current accounts that occurred over the annual operating period ended December 31, 0008. Cash account balance at December 31, 0007, was $12,020 and the ending cash balance at December 31, 0008, is $30,840. Additional information applying to the current year ending December31, 0008: a. […]
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a. As a step in preparation of the 4C Company’s preliminary budget for Year 2008, calculate the forecast sales revenue based on Year 2007 actual results adjusted as follows: dinner seat turnover figures will not change (see Case 6). Note that at lunch the guest-count figure will increase as a result of the advertising plan […]