Tennis Subscription
Income vs Expenses
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Words
then
Calculation
then
Numbers
Income:
Casual Fees:
$12 x 15 x 52
Club Hire:
$250 x 12
Raffles:
$120 x 39
(3/4 x 52 weeks = 39 weeks)
Total Income:
= $ 9360
= $ 3000
= $ 4680
$17040
Expenses:
Wages (were told not to add GST)
Machinery
$12000 x 1.15
Power
$ 2000 x 1.15
Insurance (GST already incl)
Tennis Ball Machines
$25000
= $13800
= $ 2300
$ 800
?????????
Tennis Ball Machines
Cost $AU 1300 each.
$1NZ = $0.80 AU
so
$1 AU = $1 NZ x 5/4
OR
$1 US = $1 NZ ÷ 0.80
So $1300 AU = $1300 ÷ 0.75 = $1625 NZ
Two Tennis Ball Machines cost $3250 NZ
Income:
Casual Fees:
$12 x 15 x 52
Club Hire:
$250 x 12
Raffles:
$120 x 39
(3/4 x 52 weeks = 39 weeks)
Total Income:
= $ 9360
= $ 3000
= $ 4680
$17040
Expenses:
Wages (were told not to add GST)
Machinery
$12000 x 1.15
Power
$ 2000 x 1.15
Insurance (GST already incl)
Tennis Ball Machines
Total Expenses:
$25000
= $13800
= $ 2300
$ 800
$ 3250
$45150
Expenses = $45150
Income = $17040
Subs need to make up the difference:
$45150 - $17040 = $28110
When we include profit $8000, the amount to be covered by subs is
$36110
Membership:
Number of juniors:
Number of seniors:
216 members
1/3 x 216 = 72
2/3 x 216 = 144
Juniors pay ¼ of the cost of a senior sub so 72 juniors pay the
equivalent of 72/4 = 18 seniors.
Number of seniors = 144 + 18 (ie 72 juniors) = 152
$36110 / 152 = $237.57
Senior sub:
$237.57
Junior sub: $264.78 / 4 = $ 59.39
Rounding sensibly (for Excellence):
Senior Sub $240
Junior Sub $ 60
For Excellence you must discuss the possible increase in
membership. “Up to 10%” was quoted for a possible
increase in membership. Look at different options up to
10% and how it will affect the subscriptions.