Stage 1 ABC at a college: Assigning costs to activities. An economics professor

Question

Stage 1 ABC at a college: Assigning costs to activities. An economics professor at Prince Town University devotes 55 percent of her time to teaching, 35 percent of her time to research and writing, 10 percent of her time to service activities such as committee work and student advising. The professor teaches two semester per year. During each semester, she teaches one section of an introductory course(with a maximum enrollment of 50 students) and one section of a graduate economics course(with a maximum enrollment of 30 students). Including course preparation, classroom instruction and appointments with students, each course requires an equal amount of time. The economics professor is paid $135,000 per year. Determine the activity cost of instruction per student in both the introductory and the graduate economics courses.

Explanation / Answer

Professor Salary $ 135,000 Teaching Time 55% Professor Salary Attributable to teaching $    74,250 Total Students 80 Activity Cost per Student $          928

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