Using Your Forecast From The Previous Assignment Please Ente

Question

Using Your Forecast From The Previous Assignment Please Enter Formulas Using your Forecast from the previous assignment please enter formulas to fill the following cells: • Transient Rooms Revenue = Transient Occupied Rooms x Average Transient Rate. • Group Rooms Revenue = Group Occupied Rooms x Average Group Rate. • Total Occupied Rooms = Transient Occupied Rooms + Group Occupied Rooms. • Occupancy % (this is a 150 rooms hotel) = Total Occupied rooms / 150. • Food & Beverage Revenue = Food & Beverage Covers x Average Cover. • Labor = Occupied Rooms x 1.44 (hotel’s average productivity) x $15 (average hourly wage). • Taxes & Benefits = Labor x 43%. • Rent = $50,000 / days in the month. • Insert a row after Food & Beverage Revenue that calculates Total Revenue (Transient + Group + Food & Beverage). • Insert a row after rent that calculates total expenses (Labor + Taxes & Benefits + Rent). • Add a row at the end that calculates profit (Total Revenue - Total Expenses). • Add a total column at the end after the 31st. Watch out for cells AG6, 9, & 14. They should be averages not sums! Cell AG12 should have the following formula =+AG11/(150*31). Once you have entered all the formulas above please apply these additional format changes: • Format all cells to match their number type. i.e. currency, percentage etc. (all cells should have 0 decimal places) • The whole worksheet should be Arial font size 12 (except the title cell). • Bold cells A4 & A17. • Add an underline to rows 16 & 21. • Add a double underline to row 22. Formulas must use cell references, DO NOT add actual numbers!! You should not need a calculator to complete this assignment, the whole point is to make EXCEL do the work for you :) Save your file as “Formulasfirstlastname”— Grading for this assignment will be: 2 points for each of the following: • Transient Rooms Revenue formula is correct. • Group Rooms Revenue formula is correct. • Total Occupied Rooms formula is correc

Dr. Jack HW Helper · Accepted Answer

In this assignment, we focus on utilizing Excel formulas to automate the calculation of key financial metrics in a hotel forecast model. This enhances accuracy and efficiency by minimizing manual calculations, ensuring consistent updates as variables change. The primary goal is to establish interconnected formulas that dynamically reflect the hotel's financial performance based on input data and predefined assumptions. Establishing Revenue Calculations The foundation begins with calculating Room Revenues for transient and group bookings. The formula for Transient Rooms Revenue should multiply the number of transient occupied rooms by the average transient rate, such as =B3C3 if B3 contains transient occupied rooms and C3 contains the average transient rate. Similarly, Group Rooms Revenue is computed as =D3E3. These formulas link occupancy data with pricing to yield revenue figures. Summing these provides the Total Occupied Rooms, calculated as =B3+D3, and the occupancy percentage as =F3/150, considering the hotel has 150 rooms. Calculating Food and Beverage Revenue F&B revenue depends on the number of covers and the average cover charge, with the formula =G3*H3. These revenue streams collectively contribute to total revenue, calculated by summing transient, group, and F&B revenues: =I4+J4+K4 Labor and Expense Computations Labor costs are based on occupation levels, productivity, and wage rates. The formula is =F31.4415, where 1.44 reflects hotel labor productivity and 15 is the hourly wage. Taxes and benefits are calculated as =L4*43%. Rent is fixed at $50,000 divided by days in the month, e.g., =50000/31. Other expenses include total labor costs, taxes, benefits, and rent, summed at =M4+N4+O4. Total revenue and expenses are summed as =P4 and =Q4, respectively, then profit is computed as =P4-Q4. Formatting and Structural Details All cells should be formatted according to their data type with zero decimal places for currency and percentage values. The font fo

Using Your Forecast From The Previous Assignment Please Ente

Using Your Forecast From The Previous Assignment Please Enter Formulas

Paper For Above instruction

Establishing Revenue Calculations

Calculating Food and Beverage Revenue

Labor and Expense Computations

Formatting and Structural Details

Conclusion

References