Show all work to solving each formula in blue, in the corrosponding order and format.

7-45 Comprehensive Budgeting for a University Suppose you are the controller of Nebraska State University. The university president. La is preparing for her annual fundraising campaign for 20x7-20X8. To set an appropriate tare has asked you to prepare a budget for the academic year. You have collected the following date for current year (20X6-20X7) Graduate Divisie Undergraduate Division 558,000 24 Average salary of faculty member Average faculty teaching load in semester credit hours per year (eight undergraduate or six graduate courses) Average number of students per class Total enrollment (full-time and part-time students) Average number of semester credit-hours carried each year per student Full-time load. semester hours per year 20 30 3.600 25 30 20 For 20X7-20X8, all faculty and staff will receive a 6% salary increase. Undergraduate enrollment pected to decline by 2%, but graduate enrollment is expected to increase by 5%. The 20X6-20X7 budget for operation and maintenance of facilities was $500,000, which includes $240,000 for salaries and wages. Experience so far this year indicates that the budget is accurate. Salaries and wages will increase by 6% and other operating costs will increase by The 20X6-20X7 and 20X7-20X8 budgets for the remaining expenditures are as follows: CHAPTER 7. INTRODUCTION TO BUDGETS AND PREPARIN $12.000 in 20X7-20X8. 20X6-20X7 $500,000 20x7-20x8 $525.000 General administrative Lite Acquisitions Operations Health services stramaral athletics Insere legiate athletics Insurance and retirement 150.000 190,000 48.000 56,000 240,000 520.000 75,000 155.000 200,000 50.000 60,000 245.000 560,000 75.000 Tuition is $92 per credit hour. In addition, the state legislature provides $780 per full-time- equivalent student. (A full-time equivalent is 30 undergraduate hours or 24 graduate hours.) Full-tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students Revenues other than tuition and the legislative apportionment are as follows: Endowment income Net income from auxiliary services Intercollegiate athletic receipts 20X6-20X7 $200,000 325.000 290.000 20x7-20x8 $210,000 335.000 300,000 The chemistry/physics classroom building needs remodeling during the 20X7-20X8 period. Projected cost is $575,000. E G F Nebraska State University Undergrachates $ 58,000 Graduates 58,000 $ 24 30 3,600 18 20 1,800 A B D 5 Data for 20X6-20X7 6 7 Average salary of faculty member 8 Average faculty teaching load in semester 9 credit hours per year (eight undergrachate 10 or six prachuate courses) 11 Average member of students per class 12 Total enrollment (full-time and part-time students) 13 Average mmber of semester credit hours carried 14 each year per student 15 Full-time load, semester hours per year 16 Tuition per credit hour (no other fees required) 17 Data for 20X7 20X8 and additional information 18 Enrollment increase (decrease) 19 Faculty salary increase 20 Full-time scholarships 21 Expenses 22 Budget for operations & maintenance 23 Budget for remaining expenses 24 24 Budgeted operating expenses 25 Reventies 26 Endowment income 27 Net income from auxiliary service 28 Intercollegiate athletic receipts 29 Other 30 30 Classroom remodeling 25 30 92 BS 20 24 92 6.00 30 5.00% 6.00% 50 20X720X8 526,400 1.870,000 2,396,100 210.000 335.000 300,000 $75.000 300,000 575,000 Graduates Formula 13 Formula 14 Formula 15 Formula 16 Formula 17 Formula 18 Formula 19 Formula 20 Formula 21 Formula 22 28 Intercollegiate athletic receipts 29 Other 30 Classroom remodeling 31 Required Undergraduates 32 a Projected carollment Formula 1 33 b. Projected student credit hours Formula 2 34 Less scholarship credit hours Formula 3 35 Tuition paying credit hours Formula 4 36 c. Full-time equivalent enrollment Formula 5 37 Projected credit hours taught per faculty member Formula 6 38 d Projected mamber of full-time faculty Formula 7 39 e. Projected salaries and benefits for full-time 40 faculty Formula 8 41 f Projected tuition revenue Formula 9 42 Legislative apportionment: 43 Full-time equivalent students Formula 10 44 Legislative apportionment per full-time 45 equivalent student Formula 11 46 g Total legislative apportionment Formula 12 47 48 Nebraska State University 49 Expenses 50 Faculty salaries 51 Budgeted operating expenses 52 Total budgeted operating expenses 53 Revenues 34 Tuition 55 Legislative apportionment 56 Endowment income 57 Net income from suciary services 58 Intercollegiate athletic receipts 59 Total budgeted operating revente 60 Deficit from operations 61 Budgeted capital expenditures 6. Totalcach needed from Formula 23 Formula 24 20X7-20X8 Formula 25 Formula 26 Formula 22 Formas Formula 30 Fom 7-45 Comprehensive Budgeting for a University Suppose you are the controller of Nebraska State University. The university president. La is preparing for her annual fundraising campaign for 20x7-20X8. To set an appropriate tare has asked you to prepare a budget for the academic year. You have collected the following date for current year (20X6-20X7) Graduate Divisie Undergraduate Division 558,000 24 Average salary of faculty member Average faculty teaching load in semester credit hours per year (eight undergraduate or six graduate courses) Average number of students per class Total enrollment (full-time and part-time students) Average number of semester credit-hours carried each year per student Full-time load. semester hours per year 20 30 3.600 25 30 20 For 20X7-20X8, all faculty and staff will receive a 6% salary increase. Undergraduate enrollment pected to decline by 2%, but graduate enrollment is expected to increase by 5%. The 20X6-20X7 budget for operation and maintenance of facilities was $500,000, which includes $240,000 for salaries and wages. Experience so far this year indicates that the budget is accurate. Salaries and wages will increase by 6% and other operating costs will increase by The 20X6-20X7 and 20X7-20X8 budgets for the remaining expenditures are as follows: CHAPTER 7. INTRODUCTION TO BUDGETS AND PREPARIN $12.000 in 20X7-20X8. 20X6-20X7 $500,000 20x7-20x8 $525.000 General administrative Lite Acquisitions Operations Health services stramaral athletics Insere legiate athletics Insurance and retirement 150.000 190,000 48.000 56,000 240,000 520.000 75,000 155.000 200,000 50.000 60,000 245.000 560,000 75.000 Tuition is $92 per credit hour. In addition, the state legislature provides $780 per full-time- equivalent student. (A full-time equivalent is 30 undergraduate hours or 24 graduate hours.) Full-tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students Revenues other than tuition and the legislative apportionment are as follows: Endowment income Net income from auxiliary services Intercollegiate athletic receipts 20X6-20X7 $200,000 325.000 290.000 20x7-20x8 $210,000 335.000 300,000 The chemistry/physics classroom building needs remodeling during the 20X7-20X8 period. Projected cost is $575,000. E G F Nebraska State University Undergrachates $ 58,000 Graduates 58,000 $ 24 30 3,600 18 20 1,800 A B D 5 Data for 20X6-20X7 6 7 Average salary of faculty member 8 Average faculty teaching load in semester 9 credit hours per year (eight undergrachate 10 or six prachuate courses) 11 Average member of students per class 12 Total enrollment (full-time and part-time students) 13 Average mmber of semester credit hours carried 14 each year per student 15 Full-time load, semester hours per year 16 Tuition per credit hour (no other fees required) 17 Data for 20X7 20X8 and additional information 18 Enrollment increase (decrease) 19 Faculty salary increase 20 Full-time scholarships 21 Expenses 22 Budget for operations & maintenance 23 Budget for remaining expenses 24 24 Budgeted operating expenses 25 Reventies 26 Endowment income 27 Net income from auxiliary service 28 Intercollegiate athletic receipts 29 Other 30 30 Classroom remodeling 25 30 92 BS 20 24 92 6.00 30 5.00% 6.00% 50 20X720X8 526,400 1.870,000 2,396,100 210.000 335.000 300,000 $75.000 300,000 575,000 Graduates Formula 13 Formula 14 Formula 15 Formula 16 Formula 17 Formula 18 Formula 19 Formula 20 Formula 21 Formula 22 28 Intercollegiate athletic receipts 29 Other 30 Classroom remodeling 31 Required Undergraduates 32 a Projected carollment Formula 1 33 b. Projected student credit hours Formula 2 34 Less scholarship credit hours Formula 3 35 Tuition paying credit hours Formula 4 36 c. Full-time equivalent enrollment Formula 5 37 Projected credit hours taught per faculty member Formula 6 38 d Projected mamber of full-time faculty Formula 7 39 e. Projected salaries and benefits for full-time 40 faculty Formula 8 41 f Projected tuition revenue Formula 9 42 Legislative apportionment: 43 Full-time equivalent students Formula 10 44 Legislative apportionment per full-time 45 equivalent student Formula 11 46 g Total legislative apportionment Formula 12 47 48 Nebraska State University 49 Expenses 50 Faculty salaries 51 Budgeted operating expenses 52 Total budgeted operating expenses 53 Revenues 34 Tuition 55 Legislative apportionment 56 Endowment income 57 Net income from suciary services 58 Intercollegiate athletic receipts 59 Total budgeted operating revente 60 Deficit from operations 61 Budgeted capital expenditures 6. Totalcach needed from Formula 23 Formula 24 20X7-20X8 Formula 25 Formula 26 Formula 22 Formas Formula 30 Fom