Differential revenue Study guides, Class notes & Summaries

Revenue Management Exam Latest 2023 100% Pass Penetration Index measures chosen indicators in relation to the market averages of the same indicators. An index above 100 percent indicates that the measure exceeds the market average. An index below 100 percent is below the market average. Distribution Channel Managers try to obtain most of the hotel's revenue through those channels that are 1 The highest revenue producers, 2 The most cost-effective, and 3 The most easily controlled. Long-Term F...

Revenue Management Final PASSED Questions and CORRECT Answers Hair Salons - Correct Answer- Hotel revenue managers face hard supply constraints. In which industry below are hard constraints also likely to be encountered? Implemented a differential pricing strategy and allocate the limited supply to those market segments who value the rooms most highly. - Correct Answer- Lisa is the revenue manager of a 500 room hotel property. Next week-end demand for her rooms will exceed the number o...

why is strategy not a zero-sum game? correct answers win-win scenarios - co-opetition (collaborative efforts among competitors for mutual gain) analysis-formulation-implementation (afi) strategy framework correct answers analysis - a diagnosis of the competitive challenge, which is accomplished through strategy analysis of the firm's internal and external environments; formulation - a guiding policy providing overarching approach that addresses the competitive challenge, and which is accompl...

Accounting the process of keeping the financial score for the entity relevant cost: the cost that differs between two alternatives sunk cost: cash already spent; irrelevant to decision making because cash does not exist, does not effect anything we do break even is when revenue equals cost differential analysis: analyzing the difference between two alternatives. Traceable Fixed Cost A fixed cost that is able to be traced back to some sort of cost object or business segment Common Fixed...

ACCT 245 Final Exam | Complete Solutions (Answered) When analyzing two alternatives which is NOT true? A) Isolating relevant cost gives a different answer than using all costs B) Isolating relevant costs is classed the differential cost approach C) Mining irrelevant costs may cause confusion and distract attention from the information that is critical When a company does not have enough capacity to produce all of the products and sales volume demanded by their customers, this leads to ______. ...

Why is cost accounting so important in health care? correct answers Though costs have such a minor role in deermining prices, cost accounting is very important in a healthcare organization. Because reimbursment is predetermined, managment must focus primarily on finding ways tomanage cosgts, so cost accougtning is critical. Cost information is uselful to a variety of key decisionmakers in a healthcare organization. Different concepts of cost are required for different purposes. Thefore it is imp...

Solution Manual for Managerial Accounting 17th Edition By Ray Garrison , Eric Noreen and Peter Brewer 2023 |ISBN: 9781260575682 | All Chapter ( 1-16 ) A+ Chapter 1 Managerial Accounting and Cost Concepts Questions 1-1 The three major types of product costs in a manufacturing company are direct materials, direct labor, and manufacturing overhead. 1-2 a. Direct materials are an integral part of a finished product and their costs can be conveniently traced to it. b. Indirect materials a...

This formula represents a buyers view of a sales transaction? - Answer- Perceived Value-Selling Price=Personal Profit Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue management strategies and tactics. - Answer- Regular Strategy meetings A pricing system based upon a buyers view of product or service value - Answer- Value-based pricing Included in the Place portion of a hotel's markieting mix - Answer- Distribution channels Tas...

Actual Manufacturing Overhead - ANSWER-Manufacturing costs other than direct materials and direct labor. Break Even - ANSWER-To make just enough income to cover costs without any profit or loss. Budget - ANSWER-A quantitative expression of a plan that shows how a firm or organization will acquire and use resources over some specified period of time. Business Documents - ANSWER-Records of transactions used as the basis for recording accounting entries; include invoices, check stubs, rece...

UNIT 3 Economics Year 12 ATAR Questions and answers, rated A+ What are 5 linkages between economies? - -Immigration & emigration, trade, foreign investment, and tourism What are 3 international flows? - -Trade flows, financial flows, and worker flows What are 6 factors impacting international competitiveness? - -Exchange rates, world economic growth, domestic economic growth, relative inflation rate, interest rate differential, productivity What 7 things is globalisation characterised b...