please fix daily rate this one is too high so for infants $50 and rest $40 snd then multiply but 20 for monthly fee instead of 30 since centre is closed on the weekends this needs to be taken under consideration and then if yoican update rest of calcula

profileMichelle_Michy
attachment_15.xlsx
Home>Business & Finance homework help>please fix daily rate this one is too high so for infants $50 and rest $40 snd then multiply but 20 for monthly fee instead of 30 since centre is closed on the weekends this needs to be taken under consideration and then if yoican update rest of calcula

Sheet1

No. of Children
Age group Adult:Child Ratio No. of Children No. of Caregivers
0 - 1 1 : 3 6 2
1 - 2 1 : 5 10 2
2 - 3 1 : 6 18 3
3 - 5 1 : 8 16 2
50 9
Income Age group No. of Children Monthly fee Parent fees Subsidy Total Monthly fees
0 - 1 6 $ 2,000 $ 10,200 $ 1,800 $ 12,000
1 - 2 10 $ 1,850 $ 15,725 $ 2,775 $ 18,500
2 - 3 18 $ 1,950 $ 29,835 $ 5,265 $ 35,100
3 - 5 16 $ 2,050 $ 27,880 $ 4,920 $ 32,800
$ 83,640 $ 14,760 $ 98,400
Payscale Title No. Rate / Hr Total Annual Hrs Annual Total
Supervisor 1 20 2,080 40,560
Caregiver Senior-level 1 17 10,400 171,600
Caregiver Entry-level 1 16 8,320 128,960
Cook 2 15 4,160 124,800
Cleaning Staff 3 15 6,240 271,440
Temporary 1 14 400 5,600
742,960
Assumptions
Childcare centre is closed for half a month in December for holiday events.
Employer contributes 5% to a retirement fund on behalf of employees
Caregivers attend a mandatory one week training three times a year, February, May and December
The centre has a capacity of 50 children and it was filled to capacity for the whole year except for January (90%), April (90%) and November (80%)
Centre contributes $889.54 per employee per month for Employment Insurance (EI) which is maximum premium level set by canadian benefits authority.
Monthly fee per child is set as below based on age group. The billed amount is as per management assessment.
Age group Monthly fee
0 - 1 $ 2,000
1 - 2 $ 1,850
2 - 3 $ 1,950
3 - 5 $ 2,050
The centre is exempted from paying taxes.
Income and Expenses Worksheet
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
Parents Fees 75,276 83,640 83,640 75,276 83,640 83,640 83,640 83,640 83,640 83,640 66,912 41,820 928,404
Subsidy 13,284 14,760 14,760 13,284 14,760 14,760 14,760 14,760 14,760 14,760 11,808 14,760 171,216
Total Monthly Fees 88,560 98,400 98,400 88,560 98,400 98,400 98,400 98,400 98,400 98,400 78,720 56,580 1,099,620
Expenses
Payroll 61,913 61,913 61,913 61,913 61,913 61,913 61,913 61,913 61,913 61,913 61,913 61,913 742,960
Rent 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000
Water and Electricity 3,400 3,250 3,900 3,850 3,200 350 3,200 3,450 3,600 3,500 3,200 400 35,300
Training - 0 1,500 - 0 - 0 1,500 - 0 - 0 - 0 - 0 - 0 - 0 1,500 4,500
Inspections 750 750 750 750 750 750 750 750 750 750 750 750 9,000
Groceries 4,100 4,200 3,900 3,850 4,000 3,850 4,300 4,100 4,050 3,900 3,650 - 0 43,900
Supplies 950 850 1,000 950 800 800 1,000 850 950 800 950 - 0 9,900
Garbage Collection 185 185 185 185 185 185 185 185 185 185 185 185 2,220
Repairs and Maintenance 300 250 350 300 200 850 250 200 300 350 250 900 4,500
Employment insurance (EI) 667 667 667 667 667 667 667 667 667 667 667 667 8,006
Telephone 350 450 400 350 400 70 350 400 500 450 400 70 4,190
Fuel 1,300 1,400 1,200 1,350 1,300 400 1,600 1,350 1,400 1,200 1,100 450 14,050
CPP (Retirement fund) 3,096 3,096 3,096 3,096 3,096 3,096 3,096 3,096 3,096 3,096 3,096 3,096 37,148
TOTAL EXPENSES 963,674
Annual Profit or Loss Statement
Income
Parent Fees 928,404
Government Subsidy 171,216
Total Income 1,099,620
Expenses
Payroll 742,960
Rent 48,000
Water and Electricity 35,300
Training 4,500
Inspections 9,000
Groceries 43,900
Supplies 9,900
Garbage Collection 2,220
Repairs and Maintenance 4,500
Employment insurance (EI) 8,006
Telephone 4,190
Fuel 14,050
CPP (Retirement fund) 37,148
Total Expenses 963,674
Net Profit 135,946
Tax - 0