Youth Basketball Clinics Budget FY23 Contingency C : Plan for a hike in the minimum wage \& necessary equity increases for other rates. Assume: Jr. Coaches must earn $15/hr. Asst. Coaches earn $20/hr. Head Coaches earn $30/hr. Also, remember to increase the Rental cost by $1000 /week for Contingency C. After changing pay rates. (and rental increase on the 4th sheet) on each sheet (3%,5%, \& Min Wage \& Rental Increase, but NOT changing anything on the Original sheet), answer these questions, then transfer your answers to the Assignment (part 1 of 2 ) (in quiz format). CONTINGENCY A: 3% INCREASE in SALARIES 1. Given a 3% increase in all salaries, how much will it cost to employ the Assistant Coaches in FY23? 2. Given a 3% increase in all salaries, how much will it cost to employ the Jr. Coaches in FY 23 ? 3. Given a 3% increase in all salaries, how much will each Assistant Coach be paid in FY23? 4. Given a 3% increase in all salaries, how much will each Jr. Coach cost for FY23? 5. Given a 3% increase in all salaries, how much will it cost to employ all of the staff per clinic? 6. Given a 3% increase in all salaries, how much do you need to budget for staff for FY 23 ? 7. Given a 3% increase in all salaries, how much will each clinic cost? CONTINGENCY B: 5% INCREASE In SALARIES 8. Given a 5% increase in all salaries, how much will it cost to employ the Head Coach in FY23? 9. Given a 5% increase in all salaries, how much will it cost to employ the Assistant Coaches in FY23? 10. Given a 5% increase in all salaries, how much will it cost to employ the Jr. Coaches in FY23? 11. Given a 5% increase in all salaries, how much will each Assistant Coach be paid in FY23? 12. Given a 5% increase in all salaries, how much will each Jt. Coach cost for FY23? 13. Given a 5% increase in all salaries, how much will it cost to employ all of the staff per cllinic? 14. Given a 5% increase in all salaries, how much do you need to budget for staff for FY23? 15. Given a 5% increase in all salaries, how much will eoch clinic cost? 18. Given the instructions in Contingency C, how much will the entire Youth Basketball Clinic Program cost? 19. What is the difference between the total cost of the program in the original budget (1" tab) and the budget that includes changes based on an increase in minimum wage and an increase in renting the facility ( 4h tab)? Create a 5th sheet and follow these instructions your CEO has given you for the FINAL version of your budget for the upcoming year. Read this entire section before beginning to answer this question. 20. Give the situation below, what is the maximum number of clinics you can offer that still allows you to meet the stipulations listed below that your CEO is requiring? Your CEO has told you: (a. \& b. are telling you to use the Min wage \& Rental increase budget you just created) a. Your organization WILL be adopting a minimum wage of $15/hr. (Therefore, your wages listed in your Min Wage \& Rental Increase contingency budget are to be used). b. As you suspected, the faclity you rent for this program did raise the rental rate by $1,000/ week. (Therefore, your rental amount you included in your Min Wage \& Rental b. As you suspected, the facility you rent for this program did raise the rental rate by $1,000 /week. (Therefore, your rental amount you included in your Min Wage \& Rental Increase contingency budget will be used). c. Because the costs are so much higher than the current year's budget allowed, you need to i. use the Min Wage \& Rental Increase contingency budget (copy this budget and paste it onto your 5th sheet that you will label "FINAL BUDGET" on the tab (replace the word, "sheet") and ii. change ONLY the number of clinics you offer so that you meet the following requirements your CEO is asking you to meet: 1. Total salary expenditures cannot exceed $29,000 2. Total costs of the Program cannot exceed $69,000 iii. HINT: if you are struggling with this part, go back and read the highlighted part of ii. againl This is meant to be EXTREMELY simple, but will show you the beauty of using an electronic spreadsheet. iv. Finally, in addition to taking the quiz (part 1 of 2), upload your Excel into part 2 of 2 for this Assignment. I cannot open Google spreadsheets and I need to make sure you embedded formulae, so a pdf will not suffice for this Assignment. NOW that you have read all of the questions, go back and work through them in order. Remember to write you answers next to each question so that you can very easily answer the questions on the Quiz-portion of this Assignment