Great Place Preschool operates a not-for-profit morning preschool that operates nine months of the year. The...
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Great Place Preschool operates a not-for-profit morning preschool that operates nine months of the year. The preschool has 162 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows: i (Click the icon to view additional information.) (Click the icon to view salary data.) Requirements 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Great Place Preschool's budgeted income statement for the entire nine-month school year. You may group all operating expenses together. 3. Great Place Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? More info Requirement 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nea Great Place Preschool Budgeted Monthly Operating Expenses Teachers' salary: 2-day program 3-day program 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 $4,012 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $870 per month over the nine-month school year. Variable monthly expenses (over the nine-month school year for art supplies and other miscellaneous supplies are $12 per child. Revenue for the entire nine-month school year from tuition, registration fees, and the lunch program is projected to be $236,800. 4-day program 5-day program Salary data Director salary Total salary expense Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses Teachers of two-day program: Teachers of three-day program: Teachers of four-day program: Teachers of five-day program: Preschool director's salary: $438 per month $640 per month $884 per month $1,080 per month $1,200 per month Great Place Preschool has 7 two-day program teachers, 4 three-day program teachers, 4 four-day program teachers, and 6 five-day program teachers. The preschool also has a director. Print Done Great Place Preschool operates a not-for-profit morning preschool that operates nine months of the year. The preschool has 162 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows: i (Click the icon to view additional information.) (Click the icon to view salary data.) Requirements 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Great Place Preschool's budgeted income statement for the entire nine-month school year. You may group all operating expenses together. 3. Great Place Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? More info Requirement 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nea Great Place Preschool Budgeted Monthly Operating Expenses Teachers' salary: 2-day program 3-day program 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 $4,012 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $870 per month over the nine-month school year. Variable monthly expenses (over the nine-month school year for art supplies and other miscellaneous supplies are $12 per child. Revenue for the entire nine-month school year from tuition, registration fees, and the lunch program is projected to be $236,800. 4-day program 5-day program Salary data Director salary Total salary expense Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses Teachers of two-day program: Teachers of three-day program: Teachers of four-day program: Teachers of five-day program: Preschool director's salary: $438 per month $640 per month $884 per month $1,080 per month $1,200 per month Great Place Preschool has 7 two-day program teachers, 4 three-day program teachers, 4 four-day program teachers, and 6 five-day program teachers. The preschool also has a director. Print Done
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Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
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