If the inn plans on renting an average of 50 rooms per day (assuming a 30-day month), what is (1) the monthly margin of safety in dollars and (2) the margin of safety ratio? (Round ratio to 0 decimal places, e. g. 10%.)

1. $ 36,400

2. 43.33%

Explanation:

1. Calculation for the monthly margin of safety in dollars

First step is to calculate the Current sales

Current sales = 50 x 30 x $56

Current sales=84,000

Now let calculate the monthly margin of safety in dollars

Margin of safety=84,000 - $47,600

Margin of safety= $36,400

Therefore the monthly margin of safety in dollars is $36,400

2) Calculation for the margin of safety ratio

Margin of safety ratio=36,400 / 84,000

Margin of safety ratio= 43.33%

Therefore the Margin of safety ratio is 43.33%

c

explanation:

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.