LP provides individual guided meditation and exercise programs for people struggling to rebloom after a long, dreary winter. LP's annual rent for the building (that includes utilities) and leases for exercise equipment total $240,000 per year (total for all 3, not $240,000 each). Each meditation session uses $2.50 in materials. There are no supplies consumed for exercise sessions. LP hires Counselors and Trainers on a freelance contract basis and does not provide them any benefits. Counselors earn $15 per meditation session and Trainers are paid $25 per exercise session. LP's Director is paid a salary of $55,000 per year. LP's manager projects they would sell 5000 meditation sessions at $27.50 each and 5200 exercise sessions at $40 each in 2023.

1) Complete LP's Annual Projected Operating Budget for 2023 using the template below

Volume Statistics

Meditation Services # Price

Exercise Services # Price

Revenue Breakdown

Meditation Services

Exercise Services

Total Revenue

Cost Breakdown

Fixed cost

Variable cost

Meditation Personnel

Personal Trainer Personnel

Supplies

Total Cost

Profit and Loss

Revenue

Expense

Profit/(Loss)