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Collings College has annual fixed operating costs of $12,500,000 and variable operating costs of $1,000 per...

  1. Collings College has annual fixed operating costs of $12,500,000 and variable operating costs of $1,000 per student. Tuition is $8,000 per student for the coming academic year, with a projected enrollment of 1,500 students. Expected revenues from endowments and federal and state grants total $250,000. Determine the amount the college must obtain from other sources.
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Tuition Revenue - $8,000 X 1,500 Nos          12,000,000
Endowments & State Grants                250,000
Total Income          12,250,000
Less: Fixed Operating Costs          12,500,000
Income obtain from other Sources                250,000
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