Question

Start Smart Preschool operates a not-for-profit moming preschool that operates eight months of the year. The preschool has 180 kids enrolled in its various programs. The preschool's primary expense is payroll Teachers are paid a flat salary each of the eight months as follows: Click the icon to view salary data) Click the loon to view additional information) Requirements 1. Prepare Start Smart Preschool's monthly operating budget. Round all amounts to the nearest dollar 2. Using your answer from Requirement 1, create Start Smart Preschool's budgebed income statement for the entire eight-month school year. You may group all operating expenses together 3. Start Smart Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? 2-day program 3-day program 4-day program 5-day program Director salary Total salary expense Payroll tax expense Lease expense Fored operating expenses Variable operating expenses Total monthly operating expenses

Answer 1

3. Being a not-for-profit school, Start Smart Pre-school can spend the projected income of the year on providing additional facilities to the students who will enroll or can provide free enrollment to the students who cannot afford to pay the enrollment fees.

12-day program 3-day program 4-day program 5-day program Director salary Total Salary Expense Payrol Tax Expense Lease Expense Fixed operating Expense Variable operating Expense Total Monthly operating expense $3,440.00 $3,906.00 3,448.00 2,110.00 $ 1,200.00 14,104.00 $ $ 1,079.00 4,020.00 860.00 $ 2,340.00 22,403.00 Budgeted Income Statement 2 Revenue from entire eight-month school Monthly operating expense (Requirement 1) $22,403.00 No. of months Operating Expense for eight-month school Income from eight-month school $2,41,200.00 8 $1,79,224.00 $61,976.00