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The German Inn (a rooms-only property) cost its owners $3,000,000 of which they borrowed $1,500,000. The GM estimates the following cost:
Variable costs per room sold: 20 percent of ADR
Annual fixed costs:
Salaries $200,000
Insurance 20,000
Depreciation 100,000
Interest 150,000
Other 80,000
In addition, the Inn's pretax income will be taxed at an average tax rate of 25 percent.
Required:
Question 1: What is the monthly breakeven level of sales at the German Inn?
Question 2: What amount of annual sales are required if the owners are to earn 20 percent of their investment in this property?
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