The Cheyenne Hotel in Big Sky, Montana, recorded its total electrical costs and number of occupancy-days over the last year. Anoccupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the skiseason and in the summer.MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberOccupancy-Days3,5683,4284,1201,9984381,7503,6983,9781,9501,4502,0502,300ElectricalCosts$ 6,573$ 6,289$ 7,822$ 5:174$ 1,118Required:1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day.Note: Do not round your Intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed costelement answer to nearest whole dollar amount.Variable cost of electricityFixed cost of electricity>$ 4,550$ 6,687$ 6,968$ 5,878$ 3,778$ 5,330$ 5,980Answer is complete but not entirely correct.$ 0.88 per occupancy-day55$ 3,454 Xper month2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month?Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correctanswer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a questionmark will be automatically graded as Incorrect.Systematic factors like guests, switching off fans and lights.✔Number of days present in a month.Income taxes paid on hotel Income.Seasonal factors like winter or summer.Fixed salary paid to hotel receptionist.

The high-low method is a cost analysis technique that identifies fixed and variable costs in a data…

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Note: Do not round your Intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount. Answer is complete but not entirely correct. $ 0.88 per occupancy-day $ 3,454 Xper month Variable cost of electricity Fixed cost of electricity 2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? than one answer. Single click the box with the question mark to produce a check mark for a correc

1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Note: Do not round your Intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount. Answer is complete but not entirely correct. $ 0.88 per occupancy-day $ 3,454 Xper month Variable cost of electricity Fixed cost of electricity 2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? than one answer. Single click the box with the question mark to produce a check mark for a correc

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If Actual sales are OMR 450000, Total Fixed costs OMR 120000, Selling price per unit OMR 50, and Variable cost per unit OMR 35, which of the following shows Margin of Safety (MS) as amount and as percentage (on sales)? Select one: a. MS=70000 and MS (%)=12.15 b. MS=100000 and MS (%)=15 c. None of the options d. MS=50000 and MS (%)=11.11
answer msut be correct or i will give down vote A quantity of 15 units give a profit of Sh. 3, 875 for a commodity. For a quantity of 35 units, the profit is Sh. 9375. Given that the variable cost is Sh. 125, calculate the fixed cost.
Calculate the profitability of the following proposal using Average rate of return (ARR) method Proposal I Automatic machine Cost OMR 320000 Estimated life 6.5 years Estimated sales P.A160000 Cost : Material OMR 60000 Labour OMR 22000 Variable overheads OMR 14000 O a. All the options are wrong Оь. 16.53% О С.3.42% O d. 4.62%
Dhofar Company has the following information: Total Fixed cost OMR 20000 Selling price per unit OMR 25 Variable cost per unit OMR 15, What will be the correct amount of Margin of safely at a profit of OMR 6000? Select one: O a. OMR 20000 O b. None of the options O c. OMR 13333 O d. OMR 15000
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using surcharge method of setting rates calculate the average rate to break even in your central supply given following data total projected cost of central supply=900,000 total projected cost billable supplies=750,000 average cost per billable supply=7$
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