Waterford University offers an MBA program that is widely respected around the world. The tuition for the program has always covered the costs of the program until a recent recession increased the sensitivity of students to the cost of tuition. The business school managers decided to freeze the tuition cost for the past few years. The director of the MBA program asked a cost accounting class to act as consultants for the program and to make recommendations on possible ways to reduce costs or to increase tuition. You are part of a student team assigned to this project.
Required:
a. Describe the steps you will take as you analyse the program, including the types of information you would like to use.
b. Explain how you would decide on an appropriate level of tuition costs.