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Altered State University (ASU) is preparing its master budget for the upcoming academic year. Currently, 12,000 students are enrolled on campus; however, the admissions office is forecasting a 5% growth in the student body next year despite a tuition hike to $80 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:
- The average class has 30 students, and the typical student takes 15 credit hours each semester.
- Each class is three credit hours.
- Each faculty member teaches five classes during the academic year.
a. What is the budgeted tuition revenue for the upcoming academic year ?
b. How many faculty members will be needed to teach classes in the upcoming year ?
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The benefits of comparing actual performance of the operations against planned goals include all of the following except:
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