Submit your assignment using a single Excel workbook. Place each exercise/problem on a separate tab (sheet).
You must properly format Excel for the Journal Entries. And, for any discussion component (as in Part 2 of Problem 20-38), “Insert” a Textbox and use that to present your discussion on the Excel spreadsheet.
BRIEF Exercise 18-22 – found on page 825 of your textbook:
Phelps Glass Inc. has reported the following financial data: net revenues of $10 Million, variables cost of $5 Million, controllable fixed cost of $2 Million, non controllable fixed cost of $1 Million, and untraceable cost of $500.000. The accounting manager has supplied you with this data and asked you to come up with the controllable margin, total contribution, CPC, and operating income.
Problem 20-38 – found on page 920-921 in the textbook
Ramon Martinez is the general manager of Classic Inn, a local mid-priced hotel with 100 rooms. His job objectives include providing resourceful and friendly service to the hotels guests, maintaining an 80 percent occupancy rate, improving the average rate received per room to $88 from the current $85, and achieving a savings of 5 percent on all hotel costs. The hotels owner, a partnership of seven people who own several hotels in the region, want to structure Ramon’s future compensation to objectively reward him for achieving these goals. In the past, he has been paid an annual salary of $72,000 with no incentive pay. The incentive plan the partners developed has each of the goals weighted as follows:
Measure Percent of Total Responsibility
Occupancy rate (also reflects guest service quality) 40%
Operating within 95 percent of expense budget 25
Average room rate 35100%
If Ramon achieves all of these goals, the partners determined that his performance shouldmerit a bonus of $23,000. The partners also agreed that his salary would be reduced to $60,000because of the addition of the bonus.
The goal measures used to compensate Ramon are as follows:
Occupancy goal: 29,200 room-nights= 80 percent occupancy rate
100 rooms 365 days
Compensation: 40 percent weight $23,000 target reward= $9,200$9,200/29,200
$0.315 per room-night
5 percent savingsCompensation: 25 percent weight
$23,000 target reward
$1,150 for each percentage point saved
Room rate goal:
$3 rate increaseCompensation: 35 percent weight
$23,000 target reward
$26.83 per each cent increase
Ramons new compensation plan will thus pay him a $60,000 salary plus 31.5 cents per room-night sold plus $1,150 for each percentage point saved in the expense budget plus $26.83 per eachcent increase in average room rate
1. Based on this plan, what will Ramons total compensation be if his performance results are a. 30,000 room-nights, 5 percent saved, $3.00 rate increase?b. 25,000 room-nights, 3 percent saved, $1.15 rate increase?c. 28,000 room-nights, 0 saved, $1.00 rate increase?2.
Comment on the expected effectiveness of this plan
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.