Chapter 21 Homework (Application) Book The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120 5135 Credit hours 60,450 43,200 Registration, records, and marketing costs per enrolled student 5275 $275 Instructional costs per credit hour $60 $60 Depreciation on classrooms and equipment $825,600 $825,600 Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number of credit hours, Depreciation is a fixed cost Prepare a variable costing income statement showing the contribution margin and operating income for the Fait term Underwater University Variable Costing Income Statement For the Fall Term Revenue Variable costs Registration, records, and marketing costs Instructional costs Total variable costs Contribution margin Depreciation on classrooms and equipment Operating income Check My Work 6 more Check My Work uses remaining