Note : the Answers should be Computerized and in details

Exercise 1: (10 Marks) Dublin Accounting School teaches students how to become a good accountant. The following relates to the income and costs analysis for the school for 2016 Fees charged * Senior Accounting Class $50 per class per student Junior Accounting Class - $30 per class per student Costs . Resources $100 per senior students, $75 per junior students Teacher S25,000 per annum (there are 2 teachers in the school. One for senior classes, one for junior class) Class Consumables (such as whiteboard markers, worksheets) - $70 per student Administrative Expenses $30,000 per annum Finance Costs $7,000 per annum There are 40 lessons in a school year for both senior and junior levels. Suppose there are 50 senior students and 40 junior students enrolled. Each class is made up of 8 students and school fees are not refundable