salary each of the nine months as follows:

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$($Click the icon to view additional information.$)$

Requirements

Prepare WonderlandPreschool's monthly operating budget. Round all amounts to the nearest dollar.

Using your answer from Requirement $1,$ create WonderlandPreschool's budgeted income statement for the entire ninesctoobhyear. You may group all operating expenses together.

WonderlandPreschool is a not$-$for$-$profit preschool. What might the preschool do with its projected income for the year?

Salary data

Requirement $1.$ Prepare Wonderland Preschool's monthly operating budget. Round all amounts to the nearest dollar. $($Round amounts to the nearest dollar.$)$

Wonderland Preschool

Teachers of two$-$day program:

$$428$ per month

Budgeted Monthly Operating Expenses

Teachers' salary:

$2-$day program

$3-$day program

$4-$day program

$5-$day program

Director salary

Total salary expense

Payroll tax expense

More info

Lease expense

Fixed operating expenses

Variable operating expenses

Total monthly operating expenses

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Get more help $.$

In addition to the salary expense, the preschool must pay federal payroll taxes $($FICA taxes$)$ in the amount of $7\mathrm{.}65\%$ of salary expense. The preschool leases its facilities from a local church, paying $$4,090$ every month it operates. Fixed operating expenses $($telephone$,$ internet access, bookkeeping services, and so forth$)$ amount to $$890$ per month over the nine$-$month school year. Variable monthly expenses $($over the nine$-$month school year$)$ for art supplies and other miscellaneous supplies are $$9$ per child. Revenue for the entire nine$-$month school year from tuition, registration fees, and the lunch program is projected to be $$241,300.$

Teachers of three$-$day program:

Teachers of four$-$day program:

Teachers of five$-$day program:

Preschool director's salary:

$$646$ per month

$$868$ per month

$$1,055$ per month

$$1,550$ per month

WonderlandPreschool has $7$ two$-$day program teachers, $2$ three$-$day program teachers, $4$ four$-$day program teachers, and $5$ five$-$day program teachers. The preschool also has a director.

More info $$241,300.$

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