I know how to prepare the variable costing income statement but How do I get the revenue? Thank you.
The actual and planned data for Open University for the Fall term 2010 were as follows:
Enrollment 7520 6,880
Tuition per credit hour $200 $224
Credit hours 100,800 72,000
Registration, records, and marketing cost per enrolled students. $464 $464
Instructional costs per credit hour $106 $100
Depreciation on classrooms and equipment $1,376,000 $1,376,000
Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number of credit hours. Depreciation is afixed cost.
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Prepare a variable costing income statement showing the contribution margin and income from operations for the Fall 2010 term.