Use the information above to calculate your monthly budget Beginning in Column D, show your monthly budget: Category name Convert annual wages to monthly wages Assume each month you are paid the same wage amount Calculate taxes How much is remaining at the end of the month? A
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- Part A: Use a spreadsheet to prepare a monthly personal budget to show the available surplus based on the following data. ➤ Monthly salary is QAR 14,600. ➤ Monthly rental expense is QAR 6,650. 19tn3. onidiol ➤ Food expenses are QAR 250 per week. ➤ Electricity is estimated to be QAR 50 per month. ➤ Ooredoo unlimited usage telephone plan is QAR 320 per month. Entertainment is estimated to be QAR 500 per week. ➤Clothing expenses are estimated to be QAR 5,000 per year. Fuel QAR 50 per week. ➤Insurance QAR 2,460 per year. ➤ Vehicle maintenance QAR 2,000 per year. ➤You decide that you must leave a budgeted surplus of QAR 1,000 per month to cover unexpected expenses.2019 Sales Cost of Goods Sold Rent Wages Insurance Utilities Auto Maintenance Advertising Other Expenses Total Expenses Net Income Jan 3,250 1,788 525 175 46 220 40 98 2,891 359 Feb 2,700 1,485 525 175 46 225 40 81 2,577 123 Mar 3,855 2,120 525 175 46 285 80 60 116 3,407 448 Tom's Business Income Statement 98 2,900 354 2019 May Jul Aug Sep Oct Nov Dec Total Apr 3,254 3,650 2,850 2,600 2010 2,200 2,250 3,755 4,890 37,264 1,790 2,008 1,106 1,210 1,238 2,065 2,690 20,495 525 525 525 525 525 525 6,300 2,100 175 175 175 175 175 175 46 46 46 46 46 46 550 227 265 210 185 220 230 2,657 40 40 40 80 640 60 147 525 175 46 200 40 110 Jun 588 * º * * * 88 * § 547 1,568 525 175 46 185 80 60 86 3,103 2,724 126 1,430 525 175 46 205 40 78 2,499 101 40 60 2217 (207) 80 60 66 2,372 (172) 68 2,276 (26) 113 3,184 3,952 571 938 240 1,118 34,100 3,164Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000
- The most common budget is prepared for a __________. A. week B. month C. quarter D. yearA companys controller is adjusting next years budget to reflect the impact of an expected 3 percent inflation rate. Listed below are selected items from next years budget before the adjustment. After adjusting for the 3 percent inflation rate, what is the companys total budget for the selected items before taxes for next year? a. 858,150 b. 860,412 c. 810,971 d. 858,971Saudi Agricultural Company, engaged in manufacturing bricks and other relevant items and most of the transaction accomplished in 'Cash' only. The company is giving following transactions for the year 2020, you are required to prepare 'CASH BUDGET' for three months from February to April. Following are company policies for paying and receiving Cash: 1. 20% Sales is for cash and the remaining amount is realized in the month following that of sales. Suppliers Supply raw materials at one month's credi 3. Wage-bill is paid in first week of next month. 4. Overheads are paid in cash in the same month. 5. Monthly rent payment is ` 1,000. 6. Advance Income Tax of ` 15,000 is payable in April. 7. Bonus of ` 10,000 is payable to workers in February. 8. Plant Costing 80,000 is due to be installed in February. The part of the bill will be paid in March amounting to ` 18,500. 9. Half year interest on 12% ` 50,000 Debentures is to be received in February and August every year. 10. Cash at Bank on 1st…
- How do I solve the chart?5.1Profit Planning and What-If Analysis As a newly hired management accountant, you have beenasked to prepare a profit plan for the company for which you work. As part of this task, you’ve beenasked to do some what-if analyses. Following is the budgeted information regarding the coming year:[LO 10-5]Number of active policyholders beginning of month 1 100,000Average monthly premium per policy $100.00Monthly midterm cancellation rate 0.50%Policy renewal rate 85.00%Selling price per unit $ 100.00Variable cost per unit 70.00Fixed costs (per year) 1,200,000Required1. What is the breakeven volume, in units and dollars, for the coming year?2. Assume that the goal of the company is to earn a pretax (operating) profit of $300,000 for thecoming year. How many units would the company have to sell to achieve this goal?3. Assume that of the $70 variable cost per unit the labor-cost component is $25. Current negotiations with the employees of the company indicate some uncertainty regarding the labor…