The Verry Place (VP), open 365 days a year, consists of 100-room hotel with a 50-seat restaurant shop. Sandy Verry provides you with the following information: 1. Of the 100 rooms, 70 are doubles and 30 are singles. 2. The doubles are sold for $100 each and the singles sold for $80 each. 3. Forectased occupancy is 70% for doubles and 60% for singles 4. The average occupancy per room is 1.6 (only one person stays in a single but two or more stay in a double for $100 per night.) 5. Forty percent of thos staying in the singles and 20 percent of those staying in the doubles eat breakfast in the restaurant. (there is no walk-in business for breakfast The average check is $4.80. 6. The lunch and dinner business have seat turnovers and average checks as follows: Lunch Dinner Avg. Chk. Turnover Avg. Chk. Turnover 1.25 Mon-Fri $6.00 1 $10.75 0.25 $6.50 1 $12.50 Saturday Sunday 1.5 $7.00 0.5 $11.25 1. Forecast the amount of room sales for June 20X1 2. Forecast the amount of breakfast sales for June 20X1. (assume the first day of June is a Monday.) 3. Forecast the amount of lunch sales for June 20X1. Required

The Verry Place (VP), open 365 days a year, consists of 100-room hotel with a 50-seat restaurant shop. Sandy Verry provides you with the following information: 1. Of the 100 rooms, 70 are doubles and 30 are singles. 2. The doubles are sold for $100 each and the singles sold for $80 each. 3. Forectased occupancy is 70% for doubles and 60% for singles 4. The average occupancy per room is 1.6 (only one person stays in a single but two or more stay in a double for $100 per night.) 5. Forty percent of thos staying in the singles and 20 percent of those staying in the doubles eat breakfast in the restaurant. (there is no walk-in business for breakfast The average check is $4.80. 6. The lunch and dinner business have seat turnovers and average checks as follows: Lunch Dinner Avg. Chk. Turnover Avg. Chk. Turnover 1.25 Mon-Fri $6.00 1 $10.75 0.25 $6.50 1 $12.50 Saturday Sunday 1.5 $7.00 0.5 $11.25 1. Forecast the amount of room sales for June 20X1 2. Forecast the amount of breakfast sales for June 20X1. (assume the first day of June is a Monday.) 3. Forecast the amount of lunch sales for June 20X1. Required

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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