1.Prepare a tuition revenue budget for the upcoming academic year.2. Determine the number of faculty members needed to cover classes. Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 12,500 students are enrolledon campus; however, the admissions office is forecasting a 6 percent growth in the student body despite a tuition hike to $65 percredit hour. The following additional information has been gathered from an examination of university records and conversations withuniversity officials:• WSU is planning to award 170 tuition-free scholarships.The average class has 20 students, and the typical student takes 20 credit hours each semester. Each class is four credit hours.WSU's faculty members are evaluated on the basis of teaching, research, and university and community service. Each facultymember teaches five classes during the academic year.Required:1. Prepare a tuition revenue budget for the upcoming academic year.2. Determine the number of faculty members needed to cover classes.● Prepare a tuition revenue budget for the upcoming academic year.Tuition revenue budget:Total student bodyTuition-paying studentsTotal credit hoursForecasted tuition revenue

Budgeted revenues refer to the estimated revenues. Budgets are prepared for the future. The budgeted…

Answered: 1.Prepare a tuition revenue budget for…

1.Prepare a tuition revenue budget for the upcoming academic year. 2. Determine the number of faculty members needed to cover classes.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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