Question

Jamie Lee is reviewing her finances one month later. She has provided the actual amounts pald 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 any unused categories. for $2,665 $2,665 $2,110 Actual Amounts Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Ralny-day savings Entertainment Cake decorating class Movies with friends $190 $35 Monthly expenses: Rent obligation Utilities/electricity Utilities/water Utilities/cable TV Food Gas/maintenance Credit card payment Car Insurance Clothing $330 $145 $60 $135 $225 $230 $75 $95 $230 $70 $90 $1650 Monthly Expenses: Rent obligation Utilities/electricity $3,900 $4,800 $900 Budgeted Amounts Assets: Checking account Emergency fund savings account Car Computer & IPad Liabilities: Student loan Credit card balance Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy day savings $315 $120 $85 $100 $200 $140 $90 $6,200 $800 Utilities/water Utilities/cable TV Food Gas/maintenance Credit card payment Car insurance Clothing Entertainment: Cake decorating class Movies with friends $90 $90 $2,525 $1970 $190 $35 < Prey HENext

Answer 1

cash budget is below: Income Budgeted amounts actual (Inflows) bollar percent Amount Varience Salary (Net) 1 1970 NaN 2110 | 140F) Lother I NaN o Total income 1970 NaN 2110 114 0(F) Disbursements Budged Amount Actual variance cout flows) pollar percent Amount Emergency fund savings Emergency fand 35 NAN 35 savings (Regular) 190 NaN 1190 sarings NaN 1225x100=117 225 Total Sayings 225 1936 Ipercent Nam 1330 IS NaN LFixed expenses Dollar Mortgage or 315 rent property taxes o Loan/ credit 90 card payment Insurance 90 other Total fixed expenses. 495 15(E) 75 NaN 5(0) 95 | NaN 495x100 I 500 Sco 50 1970 + 25%

ooo Variable expenses. Food is 1 200 4Mania 225 2500 Utilities (Electicity & water 445 liviNaN 570 12510 + cable TV & Gas clothing NaN 230 Transportation Man personal care NaN I medical & Health NaN Entertainment 16 Education Man Gift donation NaN miscellaneous Nano other MaN. o gas 895xloot in 185 29010) Total Variable capenses 895 t Total lopenses 1390 NaN f 16.85 29500) Ea favorable U = Unfavorable 160 NaN