Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help her identify the variances in her budget. Each answer must have a value for the assignment to be complete. Enter "O" for any unused categories. Actual Amounts Incone Gross monthly salary Net nonthly salary Savings allocation: Regular savings Rainy-day savings Entertainment: Cake decorating class Movies with friends $2,610 Rent obligation $2,060 Utilities/electricity Utilities/water Monthly expenses $320 $130 $65 $185 Utilities/cable TV $30 Food $125 $210 $220 $65 Credit card payment $85 Car insurance Clothing $65 $110 $220 Gas/maintenance Budgeted Amounts Assetsi Checking account Emergency fund savings account Car Computer & iPad Liabilities: Student loan Credit card balance Incone Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy day savings Monthly Expenses $1,600 Rent obligation $3,800 Utilities/electricity $4,700 Utilities/water $850 Utilities/cable TV $6,100 Gas/maintenance $310 $115 $80 $95 Food $190 $135 $750 Credit card payment Car insurance $85 $85. $2,475 Clothing $05 $1,925 Entertainment: Cake decorating class $65 $185 Movies with frienda $30 $85 Income (Inflows) Budgeted Amounts- Budgeted Actual Amounts - Amounts- Variance Dollar Percent Dollar Salary $ 1,925 Other $ 0 Total income $ 1,925 100% 0% $ 100% $ $ 2,060 S (135) 0 S 2,060 $ D (135) in Quiz: Week1 (due Aug.30 at NC X in BUS 225 (601) FALL 2022: Cha X Question 3 - Chapter 2_Financ X Homework Help - Q&A from On X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252F... Chapter 2 Financial Planner Sheets 3 Income (Inflows) Salary 33.34 Other points Total income Saved Budgeted Amounts - Dollar Budgeted Amounts Percent - Actual Amounts - Dollar Variance $ 1,925 1,925 100% $ 0% 100% $ 2,060 $ 0 $ (135) 0 2,060 $ (135) Budgeted Disbursements Amounts - (Outflows) Dollar Budgeted Amounts - Percent Actual Amounts - Dollar Actual Amounts - Dollar eBook Emergency fund savings Emergency fund $ 0 0.00% 0 0 Print Savings (regular) $ 185 9.61% $ 185 $ 0 Savings Total savings 30 1.56% 30 $ 0 215 11.17% $ 215 $ 0 References Fixed expenses Mortgage or rent SA 310 16.10% $ 320 $ (10) Property taxes $ 0 0.00% $ 0 $ 0 Loan/credit card payment $ 85 4.42% $ 65 $ 20 Insurance $ FA 85 4.42% 110 (25) Other $ 0 0.00% 0 $ 0 Total fixed expenses EA 480 24.94% Variable expenses Food EA 190 9.87% EA EA 495 $ (15) $ 210 $ (20) Utilities $ 290 15.06% $ 320 $ (30) Clothing $ 85 4.42% $ 220 $ (135) Transportation costs 135 7.01% $ 220 $ (85) Personal care 0 0.00% 0 0 Medical and health care SA $ 0 0.00% 0 $ 0 Entertainment 150 7.79% 150 $ 0 + 0 Mc Graw Hill Prev 3 of 3 Next Help Save & Exit Submit Check my work in Quiz: Week1 (due Aug.30 at NC X in BUS 225 (601) FALL 2022: Cha X Question 3 - Chapter 2_Financ X Homework Help - Q&A from On X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252F... Chapter 2 Financial Planner Sheets Saved 3 33.34 points eBook Print Savillys Total savings Fixed expenses Mortgage or rent Property taxes Loan/credit card payment Insurance Other Total fixed expenses Variable expenses Food Utilities Clothing EA 1.30/0 P 215 11.17% 215 $ 0 EA 310 16.10% $ 320 $ (10) $ 0 0.00% $ 0 $ 0 EA 85 4.42% $ 65 $ 85 4.42% $ 110 $ (25) 22 20 0 0.00% 0 0 480 24.94% 495 $ (15) EA 190 9.87% 210 $ (20) S 290 15.06% $ 320 $ (30) EA $ 85 559 4.42% $ 220 $ (135) Transportation costs EA 135 7.01% $ 220 $ (85) References Personal care EA 0 0.00% $ 0 $ 0 Medical and health care $ 0 0.00% 0 0 Entertainment EA 150 7.79% $ 150 $ 0 Education $ 0 0.00% 0 $ 0 Gifts/donations Miscellaneous Other Total variable expenses Total expenses 0 0.00% $ 0 $ 0 0 60 EA 0.00% $ 0 $ 0 0 0.00% $ 0 0 850 44.15% $ 1,120 $ (270) 1,545 80.26% 1,830 (285) Mc Graw Hill < Prev 3 of 3 Next Help Save & Exit Submit Check my work Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help her identify the variances in her budget. Each answer must have a value for the assignment to be complete. Enter "O" for any unused categories. Actual Amounts Incone Gross monthly salary Net nonthly salary Savings allocation: Regular savings Rainy-day savings Entertainment: Cake decorating class Movies with friends $2,610 Rent obligation $2,060 Utilities/electricity Utilities/water Monthly expenses $320 $130 $65 $185 Utilities/cable TV $30 Food $125 $210 $220 $65 Credit card payment $85 Car insurance Clothing $65 $110 $220 Gas/maintenance Budgeted Amounts Assetsi Checking account Emergency fund savings account Car Computer & iPad Liabilities: Student loan Credit card balance Incone Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy day savings Monthly Expenses $1,600 Rent obligation $3,800 Utilities/electricity $4,700 Utilities/water $850 Utilities/cable TV $6,100 Gas/maintenance $310 $115 $80 $95 Food $190 $135 $750 Credit card payment Car insurance $85 $85. $2,475 Clothing $05 $1,925 Entertainment: Cake decorating class $65 $185 Movies with frienda $30 $85 Income (Inflows) Budgeted Amounts- Budgeted Actual Amounts - Amounts- Variance Dollar Percent Dollar Salary $ 1,925 Other $ 0 Total income $ 1,925 100% 0% $ 100% $ $ 2,060 S (135) 0 S 2,060 $ D (135) in Quiz: Week1 (due Aug.30 at NC X in BUS 225 (601) FALL 2022: Cha X Question 3 - Chapter 2_Financ X Homework Help - Q&A from On X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252F... Chapter 2 Financial Planner Sheets 3 Income (Inflows) Salary 33.34 Other points Total income Saved Budgeted Amounts - Dollar Budgeted Amounts Percent - Actual Amounts - Dollar Variance $ 1,925 1,925 100% $ 0% 100% $ 2,060 $ 0 $ (135) 0 2,060 $ (135) Budgeted Disbursements Amounts - (Outflows) Dollar Budgeted Amounts - Percent Actual Amounts - Dollar Actual Amounts - Dollar eBook Emergency fund savings Emergency fund $ 0 0.00% 0 0 Print Savings (regular) $ 185 9.61% $ 185 $ 0 Savings Total savings 30 1.56% 30 $ 0 215 11.17% $ 215 $ 0 References Fixed expenses Mortgage or rent SA 310 16.10% $ 320 $ (10) Property taxes $ 0 0.00% $ 0 $ 0 Loan/credit card payment $ 85 4.42% $ 65 $ 20 Insurance $ FA 85 4.42% 110 (25) Other $ 0 0.00% 0 $ 0 Total fixed expenses EA 480 24.94% Variable expenses Food EA 190 9.87% EA EA 495 $ (15) $ 210 $ (20) Utilities $ 290 15.06% $ 320 $ (30) Clothing $ 85 4.42% $ 220 $ (135) Transportation costs 135 7.01% $ 220 $ (85) Personal care 0 0.00% 0 0 Medical and health care SA $ 0 0.00% 0 $ 0 Entertainment 150 7.79% 150 $ 0 + 0 Mc Graw Hill Prev 3 of 3 Next Help Save & Exit Submit Check my work in Quiz: Week1 (due Aug.30 at NC X in BUS 225 (601) FALL 2022: Cha X Question 3 - Chapter 2_Financ X Homework Help - Q&A from On X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252F... Chapter 2 Financial Planner Sheets Saved 3 33.34 points eBook Print Savillys Total savings Fixed expenses Mortgage or rent Property taxes Loan/credit card payment Insurance Other Total fixed expenses Variable expenses Food Utilities Clothing EA 1.30/0 P 215 11.17% 215 $ 0 EA 310 16.10% $ 320 $ (10) $ 0 0.00% $ 0 $ 0 EA 85 4.42% $ 65 $ 85 4.42% $ 110 $ (25) 22 20 0 0.00% 0 0 480 24.94% 495 $ (15) EA 190 9.87% 210 $ (20) S 290 15.06% $ 320 $ (30) EA $ 85 559 4.42% $ 220 $ (135) Transportation costs EA 135 7.01% $ 220 $ (85) References Personal care EA 0 0.00% $ 0 $ 0 Medical and health care $ 0 0.00% 0 0 Entertainment EA 150 7.79% $ 150 $ 0 Education $ 0 0.00% 0 $ 0 Gifts/donations Miscellaneous Other Total variable expenses Total expenses 0 0.00% $ 0 $ 0 0 60 EA 0.00% $ 0 $ 0 0 0.00% $ 0 0 850 44.15% $ 1,120 $ (270) 1,545 80.26% 1,830 (285) Mc Graw Hill < Prev 3 of 3 Next Help Save & Exit Submit Check my work
Expert Answer:
Answer rating: 100% (QA)
To analyze the variances in Jamie Lees budget lets break down the provided information 1 Income Infl... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
With reference to the latest Annual Report of the Bank Islam Malaysia, discuss credit exposure of the bank by industry. Subsequently provide an assessment on the impact of the recent flood disaster...
-
Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help her identify the variances in her budget. Each answer must...
-
On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows: a. Prepare a multiple-step income statement for the year...
-
To navigate, a porpoise emits a sound wave that has a wavelength of 1.5 cm. The speed at which the wave travels in seawater is 1522 m/s. Find the period of the wave.
-
Income statement and balance sheet data for Great Adventures, Inc., are provided below. As you can tell from the financial statements, 2022 was an especially busy year. Tony and Suzie were able to...
-
A condenser of a refrigeration system rejects heat at a rate of \(120 \mathrm{kw}\), while its compressor consumes a power of \(30 \mathrm{kw}\). The coefficient of performance of the system would...
-
Reconstruct the following syllogistic forms and use the five rules for syllogisms to determine if they are valid from the Boolean standpoint, conditionally valid from the Aristotelian standpoint, or...
-
Create a program that prompts the user to enter two numbers as the starting and ending limits of a range. Continue asking if the starting number is greater than the endig limit. The program must...
-
On 31 March 2022, L Cowal purchased a new computerised machine costing, before trade-in, $27 500 ($25 000 + $2500 GST). The old machine had cost $18 000 and the accumulated depreciation was $7800 to...
-
J Ingenuity purchased two machines for cash on 2 January 2021. Machine 1 cost $8800 ($8000 + $800 GST) and is depreciated at 25% p.a. diminishing balance. Machine 2 cost $11 000 ($10 000 + $1000 GST)...
-
On 1 February 2022, the business purchased on credit and had installed machine 1 for $19 371 ($17 610 + $1761 GST) with a residual value $990 ($900 + $90 GST). The diminishing balance depreciation...
-
On 30 November 2021, a motor vehicle was purchased for cash $45 738 ($41 580 + $4158 GST) with an estimated residual value of $5038 ($4580 + $458 GST) and was to be depreciated using the diminishing...
-
Prepare for S Meredith the accounts receivable control account and accounts payable control account for February 2022. Balance as per accounts receivable control account 31 January 2022 Balance as...
-
For the system shown below, what should the distance X be for the system to be in equilibrium. 6 lbs 6 lbs 7 lbs 8 lbs 3ft 3ft 2ft Xft
-
The company manufactures three products: wooden chairs, tables and dressers. AFC started off as a 'Mom & Pop' shop but has grown rapidly. AFC uses one assembly line to build all three products,...
-
A break-even chart is shown below for Windhurst Ltd. You are required: (i) To identify the components of the break-even chart labelled p, q, r, s, t, u, v, w, x and y;(ii) To suggest what events are...
-
Give two reasons for the under-or over-recovery of overheads at the end of the accounting period.
-
Describe the ABC manufacturing cost hierarchy.
-
A very simple version of the normative model described in the text involves a simple economic growth process converging to a steady-state, where values do not change over time. \({ }^{14}\) A simple...
-
Go to the library or the Internet and, for a particular year, put together a data set of profits in agriculture in different geographical units of your state or country (e.g., counties of a U.S....
-
Suppose we have a small inhabited island with three residents and a volcano that generates air pollution. Two people live upwind of the volcano and one person lives downwind. For \(\$ 21,000\) we can...
Study smarter with the SolutionInn App