Sylvio owns a large fitness centre - Sandy Bay Fitness Club. To become a member of the fitness centre, individuals need to sign up for membership, of which there are three levels: Gold, Silver and Bronze. Silvio has come to you for help in preparing his budgets for the next 12 months, ending 31 July 2022. Silvio expects the number of memberships to be sold next year to be: 300 Gold, 250 Silver and 500 Bronze. The annual membership fees are $4,500 for Gold, $2,000 for Silver and $1,000 for Bronze. Silvio has hired several employees, on various salaries, in order to run the fitness centre: $155,000 per year $85,000 each per year $70,000 each per year $65,000 each per year $55,000 per year Silvio expects these operating expenses for the following 12 months: Advertising expenses Insurance expense 1 general manager 3 coaches. 2 trainers 3 administrative staff 1 medical staff Fitness supplies Rental of centre Required: Prepare - a. b. C. $45,000 $90,000 $30 per member per year $200,000 per year a Sales Budget for the year ending 31 July 2022. a Labour Budget for the year ending 31 July 2022. a Budgeted Income Statement for the year ending 31 July 2022.
Sylvio owns a large fitness centre - Sandy Bay Fitness Club. To become a member of the fitness centre, individuals need to sign up for membership, of which there are three levels: Gold, Silver and Bronze. Silvio has come to you for help in preparing his budgets for the next 12 months, ending 31 July 2022. Silvio expects the number of memberships to be sold next year to be: 300 Gold, 250 Silver and 500 Bronze. The annual membership fees are $4,500 for Gold, $2,000 for Silver and $1,000 for Bronze. Silvio has hired several employees, on various salaries, in order to run the fitness centre: $155,000 per year $85,000 each per year $70,000 each per year $65,000 each per year $55,000 per year Silvio expects these operating expenses for the following 12 months: Advertising expenses Insurance expense 1 general manager 3 coaches. 2 trainers 3 administrative staff 1 medical staff Fitness supplies Rental of centre Required: Prepare - a. b. C. $45,000 $90,000 $30 per member per year $200,000 per year a Sales Budget for the year ending 31 July 2022. a Labour Budget for the year ending 31 July 2022. a Budgeted Income Statement for the year ending 31 July 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 3
Sylvio owns a large fitness centre - Sandy Bay Fitness Club.
To become a member of the fitness centre, individuals need to sign up for membership,
of which there are three levels: Gold, Silver and Bronze. Silvio has come to you for help
in preparing his budgets for the next 12 months, ending 31 July 2022.
Silvio expects the number of memberships to be sold next year to be: 300 Gold, 250
Silver and 500 Bronze. The annual membership fees are $4,500 for Gold, $2,000 for
Silver and $1,000 for Bronze.
Silvio has hired several employees, on various salaries, in order to run the fitness
centre:
1 general manager
3 coaches
2 trainers
3 administrative staff
1 medical staff
$65,000 each per year
$55,000 per year
Silvio expects these operating expenses for the following 12 months:
Advertising expenses
Insurance expense
Fitness supplies
Rental of centre
Required:
Prepare -
a.
b.
$155,000 per year
$85,000 each per year
$70,000 each per year
C.
$45,000
$90,000
$30 per member per year
$200,000 per year
a Sales Budget for the year ending 31 July 2022.
a Labour Budget for the year ending 31 July 2022.
a Budgeted Income Statement for the year ending 31 July 2022.
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