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Question 3 [4 Marks] Ibrahim Institute of Vocational Learning is an academic institute which prepares...

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Accounting

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Question 3 [4 Marks] Ibrahim Institute of Vocational Learning is an academic institute which prepares its budget based upon two cost drivers, namely number of students and number of courses. The budgeting data given below relates to the month of November: Fixed component Variable component Variable component per month (Rs.) per student (Rs.) per course (Rs.) Revenue 0 408 0 Teacher salaries 0 0 2,400 Course materials 0 69 46 Operating expenses 33,100 15 33 In November, the institute budgeted for 1,490 students and 150 courses. The actual activity for the month was 1,810 students and 139 courses. Prepare the planning budget for the month of November

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