Please do not give solution in image format thank you Question 3The costs of a hotel at two different sales levels are as follows:Monthly Room Sales2,000Payroll: Salaries$15,000Wages40,000Employee benefits 9,2002,0008,000SuppliesUtilitiesOther operating costsBuilding rentInterest expenseInsurance4,0008,0002,0003,0003,000$15,00060,00010,7003,0008,0005,0008,0002,0003,0001. Identify each cost as fixed, variable or mixed.2. Calculate the estimated monthly fixed costs (including the fixed portion of mixed costs).3. Calculate the estimated variable costs per room sold.

Variable cost is the cost that changes with change in the activity of cost driver used. The variable…

Question 3 The costs of a hotel at two different sales levels are as follows: Monthly Room Sales 2,000 Payroll: Salaries $15,000 Wages 40,000 Employee benefits 9,200 2,000 8,000 4,000 Supplies Utilities Other operating costs Building rent Interest expense Insurance 8,000 2,000 3,000 3,000 $15,000 60,000 10,700 3,000 8,000 5,000 8,000 2,000 3,000 1. Identify each cost as fixed, variable or mixed. 2. Calculate the estimated monthly fixed costs (including the fixed portion of mixed costs). 3. Calculate the estimated variable costs per room sold.

Question 3 The costs of a hotel at two different sales levels are as follows: Monthly Room Sales 2,000 Payroll: Salaries $15,000 Wages 40,000 Employee benefits 9,200 2,000 8,000 4,000 Supplies Utilities Other operating costs Building rent Interest expense Insurance 8,000 2,000 3,000 3,000 $15,000 60,000 10,700 3,000 8,000 5,000 8,000 2,000 3,000 1. Identify each cost as fixed, variable or mixed. 2. Calculate the estimated monthly fixed costs (including the fixed portion of mixed costs). 3. Calculate the estimated variable costs per room sold.

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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