Solution-Prepare a variable costing income statement

Prepare a variable costing income statement

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Reference no: EM132763866

Problem - 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	$135
Credit hours	60,450	43,200
Registration, records, and marketing cost per enrolled student	$275	$275
Instructional costs per credit hour	$64	$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.

Required - Prepare a variable costing income statement showing the contribution margin and operating income for the Fall term.

Reference no: EM132763866

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Prepare a variable costing income statement

Reference no: EM132763866

Reference no: EM132763866

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