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Fill in the blank cells in the budget below where necessary and answer the questions that follow. BUDGET $ 1400 ACTUAL a) From the budget above, which 2 would be considered the FIXED Expenses? INCOME $ 1445 b)Explain why the others would be considered VARIABLE Expenses. Savings $100 c) What is this person's Actual Budget Balance, including if positive or negative? Rent $200 $395 $150 $225 Car Payment/Insurance Food/Eating Out $370 Explain what this means... $190 SO Utilities $0

Fill in the blank cells in the budget below where necessary and answer the questions that follow. BUDGET $ 1400 ACTUAL a) From the budget above, which 2 would be considered the FIXED Expenses? INCOME $ 1445 b)Explain why the others would be considered VARIABLE Expenses. Savings $100 c) What is this person's Actual Budget Balance, including if positive or negative? Rent $200 $395 $150 $225 Car Payment/Insurance Food/Eating Out $370 Explain what this means... $190 SO Utilities $0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 9 Fill in the blank cells in the budget below where necessary and answer the questions that follow. a) From the budget above, which 2 would be considered the FIXED Expenses? BUDGET $ 1400 ACTUAL $ 1445 INCOME b)Explain why the others would be considered VARIABLE Expenses. Savings $100 $O c) What is this person's Actual Budget Balance, including if positive or negative? Rent $200 $395 $150 $225 $370 | Car Payment/Insurance Food/Eating Out Utilities Transportation Clothing Entertainment Personal Items Household Items TO TAL Expenses Explain what this means... $190 SO N $O d) How could this budget be changed, to ensure money is actually put into savings? $40 $50 $544 $80 $60 $15 $70 $60 $36 Identify at least two possible changes. $15 Budget Balance (include calculation)
Transcribed Image Text:Question 9 Fill in the blank cells in the budget below where necessary and answer the questions that follow. a) From the budget above, which 2 would be considered the FIXED Expenses? BUDGET $ 1400 ACTUAL $ 1445 INCOME b)Explain why the others would be considered VARIABLE Expenses. Savings $100 $O c) What is this person's Actual Budget Balance, including if positive or negative? Rent $200 $395 $150 $225 $370 | Car Payment/Insurance Food/Eating Out Utilities Transportation Clothing Entertainment Personal Items Household Items TO TAL Expenses Explain what this means... $190 SO N $O d) How could this budget be changed, to ensure money is actually put into savings? $40 $50 $544 $80 $60 $15 $70 $60 $36 Identify at least two possible changes. $15 Budget Balance (include calculation)
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