Reference no: EM133105217

Question - Marquoya College (MC) is a medium-sized private school located in the Midwest. In the past, MC administrators established a budget for the next academic year by adding a specific percentage (e.g., 6 percent, 8 percent) to the tuition revenue and operating expenses. This year MC has asked for your assistance in developing its budget for the next academic year. You are supplied with the following data for the current year.

Enrollment 4,300 students

Tuition $3,300/year

Full-time faculty 250 (72% tenured)

Fees $280/year

Average faculty salary $36,000/year

Full tuition-only scholarships 400 students

For the next academic year, enrollment is expected to increase by 300 students, with each student taking an average of 32 credit hours. Tuition will increase by $100/year.

Conduct a schedule computing the next academic year's tuition and fee revenue budget. Explicitly show the effect of scholarships.