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The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120
The actual and planned data for Underwater University for the Fall term were as follows:
Actual | Planned | |||
Enrollment | 4,500 | 4,125 | ||
Tuition per credit hour | $120 | $135 | ||
Credit hours | 60,450 | 43,200 | ||
Registration, records, and marketing costs per enrolled student | $275 | $275 | ||
Instructional costs per credit hour | $64 | $60 | ||
Depreciation on classrooms and equipment | $825,600 | $825,600 |
Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number of credit hours. Depreciation is a fixed cost.
repare a variable costing income statement showing the contribution margin and operating income for the Fall term.
Underwater University | |
Variable Costing Income Statement | |
For the Fall Term | |
Revenue | $ |
Variable costs: | $ |
Registration, records, and marketing costs | $ |
Instructional costs | $ |
Total variable costs | $ |
Contribution margin | $ |
Depreciation on classrooms and equipment | $ |
Operating income | $ |
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