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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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