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Revenue Management Study Guide: Exercises and Questions, Exams of Marketing Business-to-business (B2B)

International Air and Hospitality AcademyMarketing Business-to-business (B2B)

This study guide provides a series of exercises and questions related to revenue management in the hospitality industry. It covers topics such as labor productivity, payroll management, cost volume profit analysis, and inventory turnover. The guide is designed to help students understand and apply key concepts in revenue management.

Typology: Exams

2024/2025

Available from 02/14/2025

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What is the formula managers use to calculate an employee turnover rate? -
✔✔employees separated/employees in workforce=employee turnover rate
Which measure of labor productivity would not be affected if a manager decided
to increase menu prices and to give employee raises? - ✔✔guests served per
labor hour
A managers operation had revenue of $1200. The manager server 100 guests,
used 25 hours of labor, and had a labor cost of $300. What were the managers
sales per labor hour? - ✔✔$1200/25 hours=$48
A manager anticipates that 2000 guests will be served next week. The managers
operation serves 2.5 guests per labor dollar expended. What will be the managers
estimated cost of labor next week? - ✔✔2000/2.5=$800
100% Correct Answers | Verified | Latest
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Revenue Management Study Guide with
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What is the formula managers use to calculate an employee turnover rate? - ✔✔employees separated/employees in workforce=employee turnover rate Which measure of labor productivity would not be affected if a manager decided to increase menu prices and to give employee raises? - ✔✔guests served per labor hour A managers operation had revenue of $1200. The manager server 100 guests, used 25 hours of labor, and had a labor cost of $300. What were the managers sales per labor hour? - ✔✔$1200/25 hours=$ A manager anticipates that 2000 guests will be served next week. The managers operation serves 2.5 guests per labor dollar expended. What will be the managers estimated cost of labor next week? - ✔✔2000/2.5=$

100% Correct Answers | Verified | Latest

Update 2025

Revenue Management Study Guide with

What is the first step in the 4 step process of managing payroll accounts? - ✔✔determine productivity standards What will be the effect of fixed and variable labor cost percentages if an operation increases its sales volume? - ✔✔fixed labor cost percentage will decline and variable percentage will stay the same A manager must pay a $500 annual fee to the state in order to serve alcohol in her bar. Which type of expense is the amount paid for the license? - ✔✔non- controllable, fixed What is the effect on an operations mixed expense when the operations sales volume increases? - ✔✔mixed expense amount increases, mixed expense percentage decreases

Effects on variable labor cost and labor cost percentage when an operations sales increase? - ✔✔cost of variable labor cost and labor cost percentage is unchanged The primary purpose of cost volume profit analysis is to - ✔✔identify the amount of sales revenue needed to avoid an operating loss What is the goal of managers who use matrix analysis to evaluate menu items based on each items popularity on food cost percentage? - ✔✔minimize food cost percentage Contribution margin matrix analysis is utilized. What is a good strategy to use on a popular item with low contribution margin? - ✔✔reduce the items prominence on the menu Goal Value Formula - ✔✔A x B x C x D+ Goal Value

When an operation reaches its breakeven point the operations revenue will equal its - ✔✔fixed plus variable expenses Involuntary separation occurs when an employee makes the decision to leave an organization - ✔✔false In a food service operation, a fixed expense percentage declines as sales volume declines. - ✔✔false As sales volume increases, an operations mixed expense percentage decreases while the total dollar amount of the mixed expense increases - ✔✔true Prime costs in a restaurant include food, beverage, and labor. - ✔✔true High beverage inventory turnover rates could wit frequent product outages may indicate beverage inventory levels are too small. - ✔✔true