You run a hospital with 100 rooms. Fixed daily cost is $988.00 which includes staff salary,...

You run a hospital with 100 rooms. Fixed daily cost is $988.00 which includes staff salary, property charges, maintenance etc. Variable cost per room is $12.00 which includes cleaning, equipment rentals, utility cost etc. which is incurred only when the room is full. You charge $84.00 per room per day. You sold 37.00 rooms today, how much profit/loss did you earn for today.

Expert Solution

Income Statement

Revenue	$ 3,108.00
Less: Variable Cost	$ 444.00
Contribution Margin	$ 2,664.00
Less: Fixed cost	$ 988.00
Net Income	$ 1,676.00

Calculations wide income statement for better understanding

Working	Details	Details
(A)	Number of Rooms sold today	37
(B)	Charge per Room	$ 84.00
(C )=(AxB)	Total Revenue	$ 3,108.00

(D)	Number of Rooms sold today	37
(E)	Variable Cost per Room	$ 12.00
(F)=(DxE)	Total Variable Cost	$ 444.00

(G)=(C-F)	Contribution Margin	$ 2,664.00
(H)	Fixed Cost	$ 988.00
(G-H)	Profit for today	$ 1,676.00

ekkarill92 answered 2 years ago

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