Wonderland Preschool operates a not-for-profit morning preschool that operates eight months of the year. The preschool has 190 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the eight months as follows: (Click the icon to view additional information.) (Click the icon to view salary data.) Requirements 1. Prepare Wonderland Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Wonderland Preschool's budgeted income statement for the entire eight-month school year. You may group all operating expenses together. 3. Wonderland Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? Requirement 1. Prepare Wonderland Preschool's monthly operating budget. Round all amounts to the nearest dollar. (Round Wonderland Preschool Budgeted Monthly Operating Expenses Salary data Teachers of two-day program: Teachers' salary: 2-day program 3-day program $436 per month Teachers of three-day program: $642 per month Teachers of four-day program: Teachers of five-day program: Preschool director's salary: $884 per month $1,055 per month $1,250 per month 4-day program 5-day program Director salary Total salary expense Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses More info Wonderland Preschool has 9 two-day program teachers, 5 three-day program teachers, 7 four-day program teachers, and 5 five-day program teachers. The preschool also has a director. In addition to the salary expense, the preschool must pay federal payroll taxes (FICA taxes) in the amount of 7.65% of salary expense. The preschool leases its facilities from a local church, paying $4,050 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $880 per month over the eight-month school year. Variable monthly expenses (over the eight-month school year) for art supplies and other miscellaneous supplies are $10 per child. Revenue for the entire eight-month school year from tuition, registration fees, and the lunch program is projected to be $239,100.