Sweet Suites, Inc. operatesahotelproperty that has 300 rooms. On average, 80% of S rooms are occupied on weekday, and 40% are occupied during the weekend. The man you to develop a budgetforthe housekeeping and restaurant staff for weekdays and w have determined that the housekeeping staff requires 30 minutes to clean each occupie housekeeping staff is paid $14 perhour. The housekeeping labor cost is fully variable to occupied rooms. The restaurant has six full-time staff on duty to staff the restaurant for lunch (eighthours), regardless of occupancy. However, forevery 60 occupied rooms, an person is brought in to workin the restaurant forbreakfast and lunch (eight hours), The is paid $12 per hour. Prepare two columns, labelled as weekday and weekend day.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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