Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could you please check if my answers are correct, and if you could please Identify,discuss and analyze the major issue/problem facing the company/organization in the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Could you please check if my answers are correct, and if you could please Identify,discuss and analyze the major issue/problem facing the company/organization in the case. Develop a solution to the major issue/problem facing the company/organization in the case. Thank you.

Kolbec Community College (KCC) has 4,000 full-time students and offers a variety of academic programs in three areas: professional studies, arts, and technology. The professional studies programs prepare students for administrative and clerical jobs in a variety of professional settings, including accounting, medicine, and law. The arts program's offerings are wide ranging and include graphic design, digital animation, culinary arts, cosmetology, and music arts. The technology programs are also varied, including information technology, medical laboratory technology, electrical engineering technology, pharmacy technology, and natural resources technology.

The chief financial officer of KCC, Lynn Jones, has consistently emphasized to other members of the senior management team the importance of understanding the costs of delivering the various academic programs. To that end, the costing system used at KCC tracks the direct costs of each program, which are shown below on an annual basis, along with the number of full-time students:

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Item Full-time students Professors' salaries Administrative salaries Supplies Teaching support Facilities Total direct cost Professional Studies 2,808 $1,260,808 185,808 40,808 160,808 275,808 $1,840,808 Arts 1,888 $ 650,808 70,808 150,808 180,808 150,808 $1,120,808 Technology 1,888 $ 780,808 70,808 50,808 80,808 175,808 $1,155,808 Total 4,888 $2,690,808 245,808 240,808 340,808 680,808 $4,115,808 \fResource Distribution across Activities Activity Administrative Facilities Office Central administration 20% 5% 15% Information systems technology 20% 15% 15% Student counselling services 5% 5% 10% Human resources 10% 5% 10% Library operations 20% 60% 30% Registrar's office 25% 10% 20% Total 100% 100% 100%Activity Central administration Information systems technology Student counselling services Human resources Library operations Registrar's office Measure Hours spent on program Processing hours Number of students counselled Number of admin. staff and faculty members Number of library circulations Full-time students Professional 21 6,999 2,999 Arts 15 3,999 1,999 Technology 7, see 12, see 295 14 3,999 1,999 \fCentral Admin Info Systems Student Human Library Registrar's Counseling Resources Operations Office Total Administrative $ 180,000 $ 180,000 $ 45,000 $ 90,000 $ 180,000 $ 225,000 $ 900,000 Facilities 65,000 195,000 65,000 65,000 780,000 130,000 1,300,000 Office 45,000 45,000 30,000 30,000 90,000 60,000 300,000 Total cost $ 290,000 $ 420,000 $ 140,000 $ 185,000 $ 1,050,000 $ 415,000 $ 2,500,000Activity Cost Pool Activity Rate Central administration $ 14.50 per hour Information systems technology $ 20.00 per hour Student counselling services $ 280.00 per student Human resources $ 3,700.00 member Library operations $ 87.50 circulation Registrar's office 103.75 student

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl Warren

13th Edition

1133607616, 978-1133607618

More Books

Students also viewed these Accounting questions

Question

specify some main features of the worlds labour force;

Answered: 1 week ago