Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Evansville Preschool operates a not-for-profit morning preschool that operates eight months of the year. The preschool has 190 kids enrolled in to various programs. The

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Evansville Preschool operates a not-for-profit morning preschool that operates eight months of the year. The preschool has 190 kids enrolled in to various programs. The preschoo's primary expense is payroll Teachers are paid a fat salary each of the eight months as follows: Click the icon to virsary data) (Click the foon to view additional information) Requirements 1. Prepare Evansville Preschool's monthly operating budget. Round al amounts to the nearest dollar 2. Using your answer from Requirement.create Evansville Preschoots budgeted income statement for the entire eight month school year. You may group al operating expenses together 3. Evansvile Preschool is a not-for-prof preschool. What might the greschool do with its projected income for the year? Requirements. Prepare Evansvile Praction's monthly operating budget. Round at around to the newest dollar. (Round amounts to the nearest dota) Evansville Preschool Budgeted Monthly Operating Expenses Teacher salary 1-day program Entu wy number in the edit folds and then click Check Answer Das Clear All Pemaining Check Answer Previous 3. Evansville Preschool is a not-for-profit preschool. What might the preschool do With ILS 3-day program 4-day program 5-day program Director salary Total salary expense Enter any number in the edit fields and then click Check Answer. Clear All 3 parts remaining 3. Evansville Preschool is a not-for-profit preschool. What might the preschool do w Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses Enter any number in the edit fields and then click Check Answer. 3 parts remaining Previous i Salary data Teachers of two-day program: $434 per month Teachers of three-day program: $648 per month Teachers of four-day program: $884 per month Teachers of five-day program: $1,060 per month Preschool director's salary: $1,500 per month Evansville Preschool has 9 two-day program teachers, 4 three-day program teachers, 5 four-day program teachers, and 4 five-day program teachers. The preschool also has a director. CI Print Done More Info In addition to the salary expense, the preschool must pay federal payroll taxes (FICA taxes) in the amount of 7.65% of salary expense. The preschool leases its facilities from a local church, paying $4,050 every month it operates. Fixed operating expenses (telephone, Internet access, bookkeeping services, and so forth) amount to 5890 per month over the eight-month school year. Variable monthly expenses (over the eight-month school year) for at supplies and other miscellaneous supplies are $13 per child. Revenue for the entire eight-month school year from tuition, registration fees, and the lunch program is projected to be $241,300. Print Done

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

Managerial Accounting For Clarion University Of Pennsylvania

Authors: Ray H. Garrison

14th Edition

0077577515, 978-0077577513

More Books

Students also viewed these Accounting questions

Question

Describe the new structures for the HRM function. page 676

Answered: 1 week ago