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Hotel Majestic is interested in estimating fixed and variable costs so that the company can make more accurate projections of costs and profit. The hotel is in a resort area that is particularly busy from November through February. In July and August, however, the hotel has only a 50 percent occupancy rate.
Required:
Classify each of the following costs as fixed (F), variable (V), or mixed (M) with respect to the number of hotel guests per month:
______a. Depreciation of the building______b. Salaries of restaurant staff______c. Salaries of administrative staff (hotel manager, desk clerks, accountants, etc.)______d. Soap, shampoo, and other toiletries in rooms______e. Laundry costs (cost of linens, cleaning products, depreciation of laundry equipment, etc.)______f. Food and beverage costs______g. Grounds maintenance
Each month, Haddon Company has $275,000 total manufacturing costs (20% fixed) and $125,000 distribution and marketing costs (36% fixed). Haddon's monthly sales are $500,000.
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