Western State University (WSU) is preparing its master budget for the upcoming academic year Currently, 13,000 students are enrolled on campus however, the admissions office is forecasting a 6 percent growth in the student body despite a tuition hike to $60 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 200 tuition free scholarships The average class has 30 students, and the typical student takes 15 credit hours each semester Each class is two 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 Prepare a tuition revenue budget for the upcoming academic year Determine the number of faculty members needed to cover classes 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 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 1 2 FACULTY NEEDED 3 4 YES OR NO Tuition revenue budget Total student body 0 Tuition paying students 0 Total credit hours 0 Forecasted tuition revenue $ 0 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 Shift courses to a summer session

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 06, 2024

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 13,000 students are enrolled on campus; however, the admissions office

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 13,000 students are enrolled on campus; however, the admissions office is forecasting a 6 percent growth in the student body despite a tuition hike to $60 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 200 tuition-free scholarships.
The average class has 30 students, and the typical student takes 15 credit hours each semester. Each class is two 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:

Prepare a tuition revenue budget for the upcoming academic year.
Determine the number of faculty members needed to cover classes.
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.
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?

1. image text in transcribed

2. FACULTY NEEDED:

3. image text in transcribed 4. YES OR NO

Tuition revenue budget: Total student body 0 Tuition-paying students 0 Total credit hours 0 Forecasted tuition revenue $ 0 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 Shift courses to a summer session