Business, 24.06.2020 23:01 genyjoannerubiera

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:
a. Prepare a variable costing income statement showing the contribution margin and income from operations for the Fall 2016 term.
b. Prepare a contribution margin analysis report comparing planned with actual performance for the Fall 2016 term.

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