6. Bill and Caroline's budget for a typical month is shown. CC Bill INCOME (S) Caroline...

  

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6. Bill and Caroline's budget for a typical month is shown. CC Bill INCOME (S) Caroline Total EXPENSES (S) Fixed Expenses Mortgage Telephone Cable Internet Loan payment Car payment Car insurance Savings (10% of income) Total Fixed Total Expenses BALANCE 1700 2200 3900 938 Groceries Variable Expenses (Average) 40 Heating 55 Electricity 35 Water 287 Gasoline 232 Clothing 118 Entertainment 400 Vacation fund 2105 Total Variable 3715 185 600 130 120 60 150 150 200 200 1610 a) Yesterday Bill learned that his workplace is going out of business. Remove Bill's income and design a balanced budget for next month. Income ($) Total Expenses Fixed Expenses Total Fixed Total Expenses Balance Variable Expenses Total Variable b) Explain your reasoning for the changes you made to the budget. 6. Bill and Caroline's budget for a typical month is shown. CC Bill INCOME (S) Caroline Total EXPENSES (S) Fixed Expenses Mortgage Telephone Cable Internet Loan payment Car payment Car insurance Savings (10% of income) Total Fixed Total Expenses BALANCE 1700 2200 3900 938 Groceries Variable Expenses (Average) 40 Heating 55 Electricity 35 Water 287 Gasoline 232 Clothing 118 Entertainment 400 Vacation fund 2105 Total Variable 3715 185 600 130 120 60 150 150 200 200 1610 a) Yesterday Bill learned that his workplace is going out of business. Remove Bill's income and design a balanced budget for next month. Income ($) Total Expenses Fixed Expenses Total Fixed Total Expenses Balance Variable Expenses Total Variable b) Explain your reasoning for the changes you made to the budget.

Answer rating: 100% (QA)

In order to revise the budget given that Bills income is removed due to his workplace going out of business well have to work with Carolines income al... View the full answer