HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 20 properties with an average of 150 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 70 percent, based on a 365-day year. The average room rate was $215 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows:
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 138,130,000 | |
| Food & beverage | 22,995,000 | ||
| Miscellaneous | 12,264,000 | ||
| Total revenues | $ | 173,389,000 | |
| Costs | |||
| Labor | $ | 58,142,500 | |
| Food & beverage | 18,396,000 | ||
| Miscellaneous | 13,797,000 | ||
| Management | 2,516,000 | ||
| Utilities, etc. | 37,500,000 | ||
| Depreciation | 10,500,000 | ||
| Marketing | 11,000,000 | ||
| Other costs | 4,200,000 | ||
| Total costs | $ | 156,051,500 | |
| Operating profit | $ | 17,337,500 | |
In year 1, the average fixed labor cost was $416,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open six new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 70 percent. Management has made the following additional assumptions for year 2:
The average room rate will increase by 8 percent.
Food and beverage revenues per night are expected to decline by 15 percent with no change in the cost.
The labor cost (both the fixed per property and variable portion) is not expected to change.
The miscellaneous cost for the room is expected to increase by 20 percent, with no change in the miscellaneous revenues per room.
Utilities and depreciation costs (per property) are forecast to remain unchanged.
Management costs will increase by 6 percent, and marketing costs will increase by 8 percent.
Other costs are not expected to change.
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $285 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 60.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $194, they can achieve an occupancy rate of 80 percent. The current estimated profit is $75,358,035.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
b. Prepare a budgeted income statement for year 2 if the “High Occupancy” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
c. Which is the correct pricing strategy for year 2.
| High Price Strategy | |
| High Occupancy Strategy | |
| Current Strategy |
In: Accounting
A hotel has 8 air conditioners that each have a pre- determined area liberation rate. The carbon dioxide (COx) emission rates (in ppm) are measured for each. The pollution rate is expected to be a linear function of the area liberation rate.
(a) Write out the equation of the regression line. Interpret the slope and intercept in the context of this problem. Do they make sense? Include a scatter plot of the data with the correct regression line added.
(b) Test the hypothesis that the linear relationships exist between the predictor and response variable (ANOVA, t-test for β1, t-test for ρ, or a confidence interval for β1).
(c) What is the R2 for the SLR you have obtained? What does the value mean? Use it to evaluate the linear model.
(d) Plot the standardized residuals against the independent variable. What can you say about the regression using this graph? (HINT: Are there outliers? Does it seem reasonable to claim the data has a linear fit?)
|
Area Liberation Rate |
Carbon Dioxide Emission Rate |
|
100 |
131 |
|
100 |
133 |
|
125 |
169 |
|
125 |
178 |
|
150 |
207 |
|
150 |
203 |
|
175 |
256 |
|
175 |
257 |
|
200 |
306 |
|
200 |
298 |
|
225 |
341 |
|
225 |
350 |
|
250 |
399 |
|
250 |
387 |
|
275 |
437 |
|
275 |
426 |
|
300 |
483 |
|
300 |
478 |
|
350 |
565 |
|
350 |
564 |
|
400 |
654 |
|
400 |
655 |
|
450 |
737 |
|
450 |
745 |
In: Statistics and Probability
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 24 properties with an average of 200 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 80 percent, based on a 365-day year. The average room rate was $220 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows.
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 138,170,000 | |
| Food & beverage | 29,433,600 | ||
| Miscellaneous | 14,016,000 | ||
| Total revenues | $ | 181,619,600 | |
| Costs | |||
| Labor | $ | 66,144,000 | |
| Food & beverage | 21,024,000 | ||
| Miscellaneous | 14,016,000 | ||
| Management | 2,520,000 | ||
| Utilities, etc. | 38,400,000 | ||
| Depreciation | 12,000,000 | ||
| Marketing | 14,000,000 | ||
| Other costs | 7,000,000 | ||
| Total costs | $ | 175,104,000 | |
| Operating profit | $ | 6,515,600 | |
In year 1, the average fixed labor cost was $420,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open four new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 80 percent. Management has made the following additional assumptions for year 2.
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $230 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 70.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $190, they can achieve an occupancy rate of 90 percent. The current estimated profit is $259,025,200.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted.
b. Prepare a budgeted income statement for year 2 if the “High Occupancy” strategy is adopted.
c. Which is the correct pricing strategy for year 2.
In: Accounting
The Sandhill Hotel opened for business on May 1, 2022. Here is
its trial balance before adjustment on May 31.
| SANDHILL
HOTEL Trial Balance May 31, 2022 |
||||||
|---|---|---|---|---|---|---|
|
Debit |
Credit |
|||||
|
Cash |
$ 2,523 | |||||
|
Supplies |
2,600 | |||||
|
Prepaid Insurance |
1,800 | |||||
|
Land |
15,023 | |||||
|
Buildings |
72,400 | |||||
|
Equipment |
16,800 | |||||
|
Accounts Payable |
$ 4,723 | |||||
|
Unearned Rent Revenue |
3,300 | |||||
|
Mortgage Payable |
38,400 | |||||
|
Common Stock |
60,023 | |||||
|
Rent Revenue |
9,000 | |||||
|
Salaries and Wages Expense |
3,000 | |||||
|
Utilities Expense |
800 | |||||
|
Advertising Expense |
500 |
|||||
|
$115,446 |
$115,446 |
|||||
Other data:
| 1. | Insurance expires at the rate of $300 per month. | |
| 2. | A count of supplies shows $1,190 of unused supplies on May 31. | |
| 3. | (a) Annual depreciation is $3,240 on the building. | |
| (b) Annual depreciation is $2,640 on equipment. | ||
| 4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
| 5. | Unearned rent of $2,600 has been earned. | |
| 6. |
Salaries of $770 are accrued and unpaid at May 31. |
Prepare an adjusted trial balance on May 31.
|
SANDHILL HOTEL |
||
|---|---|---|
|
Debit |
Credit |
|
|
enter an account title |
$enter a debit balance |
$enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
enter an account title |
enter a debit balance |
enter a credit balance |
|
$enter a total for the debit column |
$enter a total for the credit column |
|
In: Accounting
The Ivanhoe Hotel opened for business on May 1, 2022. Here is
its trial balance before adjustment on May 31.
| IVANHOE
HOTEL Trial Balance May 31, 2022 |
||||||
|---|---|---|---|---|---|---|
|
Debit |
Credit |
|||||
|
Cash |
$ 2,613 | |||||
|
Supplies |
2,600 | |||||
|
Prepaid Insurance |
1,800 | |||||
|
Land |
15,113 | |||||
|
Buildings |
70,000 | |||||
|
Equipment |
16,800 | |||||
|
Accounts Payable |
$ 4,813 | |||||
|
Unearned Rent Revenue |
3,300 | |||||
|
Mortgage Payable |
36,000 | |||||
|
Common Stock |
60,113 | |||||
|
Rent Revenue |
9,000 | |||||
|
Salaries and Wages Expense |
3,000 | |||||
|
Utilities Expense |
800 | |||||
|
Advertising Expense |
500 |
|||||
|
$113,226 |
$113,226 |
|||||
Other data:
| 1. | Insurance expires at the rate of $360 per month. | |
| 2. | A count of supplies shows $1,180 of unused supplies on May 31. | |
| 3. | (a) Annual depreciation is $2,760 on the building. | |
| (b) Annual depreciation is $2,160 on equipment. | ||
| 4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
| 5. | Unearned rent of $2,670 has been earned. | |
| 6. | Salaries of $710 are accrued and unpaid at May 31. |
A. Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.)
B. Prepare an income statement for the month of May.
C. Prepare a retained earnings statement for the month of May.
D. Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment .)
E. Identify which accounts should be closed on May 31.
|
Cash |
select an option ClosedNot Closed | |
|---|---|---|
|
Supplies |
select an option ClosedNot Closed | |
|
Prepaid Insurance |
select an option ClosedNot Closed | |
|
Land |
select an option ClosedNot Closed | |
|
Buildings |
select an option ClosedNot Closed | |
|
Equipment |
select an option ClosedNot Closed | |
|
Accounts Payable |
select an option ClosedNot Closed | |
|
Unearned Rent Revenue |
select an option ClosedNot Closed | |
|
Mortgage Payable |
select an option ClosedNot Closed | |
|
Common Stock |
select an option ClosedNot Closed | |
|
Rent Revenue |
select an option ClosedNot Closed | |
|
Salaries and Wages Expense |
select an option ClosedNot Closed | |
|
Utilities Expense |
select an option ClosedNot Closed | |
|
Advertising Expense |
select an option ClosedNot Closed | |
|
Interest Expense |
select an option ClosedNot Closed | |
|
Insurance Expense |
select an option ClosedNot Closed | |
|
Supplies Expense |
select an option ClosedNot Closed | |
|
Depreciation Expense |
select an option ClosedNot Closed |
In: Accounting
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 15 properties with an average of 200 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 60 percent, based on a 365-day year. The average room rate was $205 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows:
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 138,080,000 | |
| Food & beverage | 17,082,000 | ||
| Miscellaneous | 9,855,000 | ||
| Total revenues | $ | 165,017,000 | |
| Costs | |||
| Labor | $ | 42,300,000 | |
| Food & beverage | 13,140,000 | ||
| Miscellaneous | 9,855,000 | ||
| Management | 2,511,000 | ||
| Utilities, etc. | 37,500,000 | ||
| Depreciation | 11,250,000 | ||
| Marketing | 25,110,000 | ||
| Other costs | 8,011,000 | ||
| Total costs | $ | 149,677,000 | |
| Operating profit | $ | 15,340,000 | |
In year 1, the average fixed labor cost was $411,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open three new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 60 percent. Management has made the following additional assumptions for year 2:
The average room rate will increase by 10 percent.
Food and beverage revenues per night are expected to decline by 25 percent with no change in the cost.
The labor cost (both the fixed per property and variable portion) is not expected to change.
The miscellaneous cost for the room is expected to increase by 30 percent, with no change in the miscellaneous revenues per room.
Utilities and depreciation costs (per property) are forecast to remain unchanged.
Management costs will increase by 5 percent, and marketing costs will increase by 5 percent.
Other costs are not expected to change.
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $232 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 50.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $192, they can achieve an occupancy rate of 70 percent. The current estimated profit is $21,069,150.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
b. Prepare a budgeted income statement for year 2 if the “High Occupancy” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
c. Which is the correct pricing strategy for year 2.
| High Occupancy Strategy | |
| High Price Strategy | |
| Current Strategy |
In: Accounting
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 12 properties with an average of 200 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 75 percent, based on a 365-day year. The average room rate was $175 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows:
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 137,980,000 | |
| Food & beverage | 13,797,000 | ||
| Miscellaneous | 7,884,000 | ||
| Total revenues | $ | 159,661,000 | |
| Costs | |||
| Labor | $ | 38,976,000 | |
| Food & beverage | 13,140,000 | ||
| Miscellaneous | 8,541,000 | ||
| Management | 2,501,000 | ||
| Utilities, etc. | 37,200,000 | ||
| Depreciation | 10,800,000 | ||
| Marketing | 15,000,000 | ||
| Other costs | 8,001,000 | ||
| Total costs | $ | 134,159,000 | |
| Operating profit | $ | 25,502,000 | |
In year 1, the average fixed labor cost was $401,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open four new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 75 percent. Management has made the following additional assumptions for year 2:
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $212 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 65.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $172, they can achieve an occupancy rate of 85 percent. The current estimated profit is $16,159,340.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
In: Accounting
'Break even analysis
You own a 10 bedroom hotel
With the following prices:
$ 12,000 per month mortgage payment
$ 4,000 per month for the gardener and housekeeper
$ 9.00 per room for soap, towels etc.
$ 20.00 per room desired Net Profit
Assume a 30 day month
SOLVE FOR THE FOLLOWING:
1. The selling price per room per night AND the monthly breakeven point.
2. The monthly breakeven point if you raise the selling price calculated in question 1
above by $12.00.
3. The monthly breakeven point if you lower the selling price calculated in question 1
above by $3.00.
4. Which of the 3 prices would you charge? What factors should you consider?
5. What would your selling price and breakeven point be if you want to pay
yourself $50,000 per year?
In: Finance
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 20 properties with an average of 150 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 70 percent, based on a 365-day year. The average room rate was $215 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows:
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 138,130,000 | |
| Food & beverage | 22,995,000 | ||
| Miscellaneous | 12,264,000 | ||
| Total revenues | $ | 173,389,000 | |
| Costs | |||
| Labor | $ | 58,142,500 | |
| Food & beverage | 18,396,000 | ||
| Miscellaneous | 13,797,000 | ||
| Management | 2,516,000 | ||
| Utilities, etc. | 37,500,000 | ||
| Depreciation | 10,500,000 | ||
| Marketing | 11,000,000 | ||
| Other costs | 4,200,000 | ||
| Total costs | $ | 156,051,500 | |
| Operating profit | $ | 17,337,500 | |
In year 1, the average fixed labor cost was $416,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open six new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 70 percent. Management has made the following additional assumptions for year 2:
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $285 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 60.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $194, they can achieve an occupancy rate of 80 percent. The current estimated profit is $75,358,035.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
b. Prepare a budgeted income statement for year 2 if the “High Occupancy” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
c. Which is the correct pricing strategy for year 2.
| High Price Strategy | |
| High Occupancy Strategy | |
| Current Strategy |
In: Accounting
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 20 properties with an average of 200 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 70 percent, based on a 365-day year. The average room rate was $192 for a night. The basic unit of operation is the “night,” which is one room occupied for one night.
The operating income for year 1 is as follows:
| HomeSuites | |||
| Operating Income | |||
| Year 1 | |||
| Sales revenue | |||
| Lodging | $ | 138,030,000 | |
| Food & beverage | 24,528,000 | ||
| Miscellaneous | 12,264,000 | ||
| Total revenues | $ | 174,822,000 | |
| Costs | |||
| Labor | $ | 54,110,000 | |
| Food & beverage | 15,330,000 | ||
| Miscellaneous | 10,220,000 | ||
| Management | 2,506,000 | ||
| Utilities, etc. | 40,000,000 | ||
| Depreciation | 10,000,000 | ||
| Marketing | 25,060,000 | ||
| Other costs | 8,006,000 | ||
| Total costs | $ | 165,232,000 | |
| Operating profit | $ | 9,590,000 | |
In year 1, the average fixed labor cost was $406,000 per property. The remaining labor cost was variable with respect to the number of nights. Food and beverage cost and miscellaneous cost are all variable with respect to the number of nights. Utilities and depreciation are fixed for each property. The remaining costs (management, marketing, and other costs) are fixed for the firm.
At the beginning of year 2, HomeSuites will open five new properties with no change in the average number of rooms per property. The occupancy rate is expected to remain at 70 percent. Management has made the following additional assumptions for year 2:
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $222 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 60.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $182, they can achieve an occupancy rate of 80 percent. The current estimated profit is $118,854,770.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $222 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 60.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $182, they can achieve an occupancy rate of 80 percent. The current estimated profit is $118,854,770.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
The managers of HomeSuites are considering different pricing strategies for year 2. Under the first strategy (“High Price”), they will work to maintain an average price of $222 per night. They realize that this will reduce demand and estimate that the occupancy rate will fall to 60.0 percent with this strategy. Under the alternative strategy (“High Occupancy”), they will work to increase the occupancy rate by lowering the average price. They estimate that with an average nightly rate of $182, they can achieve an occupancy rate of 80 percent. The current estimated profit is $118,854,770.
Required:
a. Prepare a budgeted income statement for year 2 if the “High Price” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
b. Prepare a budgeted income statement for year 2 if the “High Occupancy” strategy is adopted. (Round your per unit average cost calculations to 2 decimal places.)
c. Which is the correct pricing strategy for year 2.
| High Occupancy Strategy | |
| High Price Strategy | |
| Current Strategy |
In: Accounting