The Lakeshore Hotel's occupancy-days and custodial supplies expense over the last seven months were as follows: Custodial Occupancy- Days 10,200 9,000 12,500 20,500 28,800 20,000 16,100 Supplies Expense $ 17,540 15,750 19,450 24,750 30,560 23,e50 21,020 Month March April May June July August September Occupancy-days are a measure of the overall activity at the hotel. For example, when a guest stays at the hotel for three days, it is counted as three occupancy-days. Required: 1. Using least-squares regression (you may use a spreadsheet to compute the fixed and variable costs), estimate a cost formula for custodial supplies expense. (Round the "Fixed cost" to the nearest dollar amount and "Veriable cost" to 2 decimal places.) Y = 2. Using the cost formula you derived above, what amount of custodial supplies expense would you expect to be incurred at an occupancy level of 15,200 occupancy-days? (Round the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost Total cost

The Lakeshore Hotel's occupancy-days and custodial supplies expense over the last seven months were as follows: Custodial Occupancy- Days 10,200 9,000 12,500 20,500 28,800 20,000 16,100 Supplies Expense $ 17,540 15,750 19,450 24,750 30,560 23,e50 21,020 Month March April May June July August September Occupancy-days are a measure of the overall activity at the hotel. For example, when a guest stays at the hotel for three days, it is counted as three occupancy-days. Required: 1. Using least-squares regression (you may use a spreadsheet to compute the fixed and variable costs), estimate a cost formula for custodial supplies expense. (Round the "Fixed cost" to the nearest dollar amount and "Veriable cost" to 2 decimal places.) Y = 2. Using the cost formula you derived above, what amount of custodial supplies expense would you expect to be incurred at an occupancy level of 15,200 occupancy-days? (Round the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost Total cost

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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