Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 12,500 students are enrolled on campus; however, the admissions office is forecasting a 8 percent growth in the student body despite a tuition hike to $75 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials: WSU is planning to award 190 tuition-free scholarships. The average class has 25 students, and the typical student takes 15 credit hours each semester. Each class is three credit hours. WSUs faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year.

Required:

1.Prepare a tuition revenue budget for the upcoming academic year.

2.Determine the number of faculty members needed to cover classes.

3.Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.

4.You have been requested by the universitys administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driverwithout them we dont operate. Are faculty members a key driver in preparing budgets?

Prepare a tuition revenue budget for the upcoming academic year.

Prepare a tuition revenue budget for the upcoming academic year.

Tuition revenue budget:	?
Current student enrollment	?
Add: Increase in student body	?
Total student body	?
Less: Tuition-free scholarships	?
Tuition-paying students	?
Credit hours per student per year	?

Determine the number of faculty members needed to cover classes.

Determine the number of faculty members needed to cover classes.

Faculty needed

?

Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.

Hire part-time instructors
Use graduate teaching assistants
Increase the teaching load for each professor
Reduce the number of courses offered.
Increase class size and reduce the number of sections to be offered
Have students take an Internet-based course offered by another university