Financial Planning and Analysis: The Master Budget

DWCC - Accountancy Department

Income Statement
For Academic Year 2018-2019, First Semester

REVENUES
Revenue -Tuition Fees ₱ 5,703,528.60
Revenue - Miscellaneous ₱ 1,757,861.10
TOTAL REVENUE ₱ 7,461,389.70
EXPENSES
Salaries ₱ 1,521,576.00
Board Fee ₱ 285,176.43
Student Development Fee ₱ 32,625.00
Seminars and Trainings ₱ 225,000.00
Supplies ₱ 5,000.00
Off-campus Activity Fee ₱ 50,000.00
Insurance Fee ₱ 21,750.00
Lecture Room Fee ₱ 217,500.00
Energy Fee ₱ 108,750.00
Other Expenses ₱ 435,000.00
TOTAL EXPENSES ₱ 2,902,377.43
NET INCOME ₱ 4,559,012.27

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 Financial Planning and Analysis: The Master Budget

DWCC - Accountancy Department

Budgeted Income Statement
For Academic Year 2018-2019, Second Semester

REVENUES
Revenue -Tuition Fees ₱ 4,182,587.64
Revenue - Miscellaneous ₱ 1,289,098.14
TOTAL REVENUE ₱ 5,471,685.78
EXPENSES
Salaries ₱ 1,115,822.40
Board Fee ₱ 209,129.38
Student Development Fee ₱ 23,925.00
Seminars and Trainings ₱ 165,000.00
Supplies ₱ 5,000.00
Off-campus Activity Fee ₱ 50,000.00
Insurance Fee ₱ 15,950.00
Lecture Room Fee ₱ 159,500.00
Energy Fee ₱ 79,750.00
Other Expenses ₱ 319,000.00
TOTAL EXPENSES ₱ 2,143,076.78
NET INCOME ₱ 3,328,609.00

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 Financial Planning and Analysis: The Master Budget

DWCC - Accountancy Department

Budgeted Income Statement
For Academic Year 2018-2019, Summer Class

REVENUES
Revenue -Tuition Fees ₱ 393,346.80
Revenue - Miscellaneous ₱ 282,874.20
TOTAL REVENUE ₱ 676,221.00
EXPENSES
Salaries ₱ 60,863.04
Board Fee ₱ 19,667.34
Supplies ₱ 5,000.00
Lecture Room Fee ₱ 35,000.00
Energy Fee ₱ 17,500.00
Other Expenses ₱ 70,000.00
TOTAL EXPENSES ₱ 208,030.38
NET INCOME ₱ 468,190.62

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 Financial Planning and Analysis: The Master Budget

DWCC - Accountancy Department

Consolidated Budgeted Income Statement
For Academic Year 2018-2019

REVENUES
Revenue -Tuition Fees ₱ 4,575,934.44
Revenue-Miscellaneous ₱ 1,571,972.34
TOTAL REVENUE ₱ 6,147,906.78
EXPENSES
Salaries ₱ 1,176,685.44
Board Fee ₱ 228,796.72
Student Development Fee ₱ 23,925.00
Seminars and Trainings ₱ 165,000.00
Supplies ₱ 10,000.00
Off-campus Activity Fee ₱ 50,000.00
Insurance Fee ₱ 15,950.00
Lecture Room Fee ₱ 194,500.00
Energy Fee ₱ 97,250.00
Other Expenses ₱ 389,000.00
TOTAL EXPENSES ₱ 2,351,107.16
NET INCOME ₱ 3,796,799.62

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 Financial Planning and Analysis: The Master Budget

DWCC- Accountancy Department is preparing its budgeted income statement for second

semester and summer classes for Academic Year 2018-2019. Currently, 435 students are

enrolled on campus. The faculty is projecting that 116 students will shift to BHM Department

next semester because of failure in meeting the department’s qualifying grade. It is also

estimated that twenty-two percent of next semester’s student body will enroll for summer class.

Round off the number of students to the nearest whole.

The following additional information has been gathered from an examination of department’s

records:

The average students per class are 29 students during regular semesters and 10 students

during summer class.

Each student takes 21 credit hours during regular semesters and 9 credit hours during

summer class.

The rate per one credit hour is Php 624.36.

Every class is good for a three unit subject during regular semesters and summer class.

Revenue from Miscellaneous fees cost Php 4041.06 per student every semester.

Each faculty carries a minimum load of 21 units during regular semesters and 9 units

during summer class.

Rate per teaching load is Php 952.63 per month.

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 Financial Planning and Analysis: The Master Budget

ADDITIONAL EXPENSES

Line items Regular Semester Summer Classes

Board Fee 5% of total revenue from tuition 5% of total revenue from

fees. tuition fees.

Student Development Fee Php 75.00 per student

Seminars and/or trainings of Php 5000.00 per faculty.

the faculty Maximum of 3 seminars and/or

trainings per semester.

Off-campus Activity Fee Php 50000.00

Supplies Expenses Php 5000.00 Php 5000.00

Insurance Fee Php 50.00 per student

Lecture Room Fee Php 500.00 per student Php 500.00 per student

Energy Fee Php 250.00 per student Php 250.00 per student

Other Expenses Php 1000.00 per student Php 1000.00 per student

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