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9 August, 04:22

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. a. Prepare a variable costing income statement showing the contribution margin and income from operations for the Fall term.

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  1. 9 August, 04:34
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    Variable Costing Income Statement

    Sales Revenue = 60,450 X $120 = $7,254,000

    Less: Variable Cost

    Reg, records, marketing = $275 X 4,500 = $1,237,500

    Instructional cost = $64 X 60,450 = $3,868,800

    Contribution Margin = $2,147,700

    Less:

    Fixed Cost

    Depreciation $825,600

    Net Operating Income = $$1,322,100
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