9. You use the utility company's budget plan for paying yourhome heating bills. You pay $75 a month for 9 months. Youractual bills are: September, $28.95; October, $46.15; November,$68.46; December, $109.34; January, $115.26; February, $94.19;March $75.66; April, $51.97; and May, $49.16. Compute theaverage for the 9 months.right © The McGraw-Hill Companies, Inc..

September actual bill (S) = $28.95 October actual bill (O) = $46.15 November actual bill (N) =…

Answered: You use the utility company's budget…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Based on the information below, create a monthly budget. Once the budget is established, estimate how much you would be able to save monthly. Identify three money wasters that you might keep you from sticking to your budget. What would the impact of those money wasters be on your ability to save? Budget Scenario You have recently graduated with a degree in marketing and started a job that pays $50,000 per year. Your monthly net income is $3,000. You have decided to move into a one-bedroom apartment in Saint Paul. Since you work within walking distance, you won’t need to own a car. You don’t want to be lonely in your new place, so you decided to adopt a pet. You let your friends talk you into joining the YMCA since it is now close to your new place. You have one credit card for emergencies, but you did use it to buy some new furniture for your apartment. You need to create a budget that you can stick to, because you are saving your money to take a trip to Europe in three years.…
At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: \table[[Cash balance, September 1 (from a summer job), $8, 430 At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: \table[[Cash balance, September 1 (from a summer job), $8,430
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.
Amora is one of your best friends. She keeps complaining that she runs out of money each month before she gets paid. She's asked you to help her make a budget based on her income from her part-time job. She handed you a crumpled paper with the following record of her expenditures for last month. Before you help her make a budget, first help her balance her monthly transactions by filling in the last column on the table below. To obtain the balance, add income and subtract expenditures and withdrawals. Date Transaction Expenditure Income or Balance Paycheck-Direct Deposit |ATM cash + fee Movie and soft drink Transportation $268.43 -$21.50 2/1 2/1 $17.85 $20.00 $45.00 $53.47 2/1 2/3 2/5 Hairdresser 2/10 Old Navy clothes ATM cash Jewelry Transportation 2/12 -$60.00 2/15 $36.00 $15.00 2/19
Eliot Sprinkler Systems produces equipment for lawn irrigation. One of the parts used in selected Eliot equipment is a specialty nozzle. The budgeting team is now determining the purchase requirements and monthly cash disbursements for this part. Eliot wishes to have in stock enough nozzles to use for the coming month. On August 1, the company has 16,800 nozzles in stock, although the latest estimate for August production indicates a requirement for only 15,000 nozzles. Total uses of the nozzle are expected to be 14,700 in September and 15,540 in October. Nozzles are purchased at a wholesale price of $8. Eliot pays 25 percent of the purchase price in cash in the month when the parts are delivered. The remaining 75 percent is paid in the following month. Eliot purchased 21,000 parts in July. Required: a. Estimate purchases of the nozzle (in units) for August and September. b. Estimate the cash disbursements for nozzles in August and September.
At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: $6,650 Cash balance, September 1 (from a summer job) Purchase season football tickets in September 90 Additional entertainment for each month 230 Pay fall semester tuition in September 3,600 Pay rent at the beginning of each month 320 Pay for food each month 180 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 820 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outfiows, a decrease in cash or cash payments. Craig Kovar Cash Budget For the Four Months Ending December 31 Line Item Description Estimated cash receipts from: Total cash recei Less…
Phoenix Management helps rental property owners find renters and charges the owners one-half of the first month’s rent for this service. For August 2022, Phoenix expects to find renters for 100 apartments with an average first month’s rent of $760. Budgeted cost data per tenant application for 2022 follow: Professional labor: 2.0 hours at $15.00 per hour Credit checks: $53.00 Phoenix expects other costs, including the lease payment for the building, secretarial help, and utilities, to be $3,600 per month. On average, Phoenix is successful in placing one tenant for every three applicants. Actual rental applications in August 2022 were 270. Phoenix paid $9,300 for 480 hours of professional labor. Credit checks went up to $58 per application. Other costs in August 2022 (lease, secretarial help, and utilities) were $3,900. The average first monthly rentals for August 2022 were $860 per apartment unit for 90 units. Required: 1. (a) What is the master budget variance for August…
Joseph is working on the budget for his summer window-washing business, trying to figure out what his total costs are going to be for the season. He has monthly data from last summer, so he decided to start with that. Using the observations below, use the high-low method to estimate a total monthly cost function for Joseph's business. Month 1 2 3 Number of Labor Hours Spent Y = $ 60 105 85 (Round answers to 2 decimal places, e.g. 15.25.) X + $ Total Cost $196 $322 $250
Using least square method, compute for the annual electricity cost if the machine hours use has a monthly average of 70.00 Amber Company manufacture laptops, preparing the next year budget the accountant complied these data. Month Machine Hours Electricity Cost Jan 80.00 2,330.40 Feb 70.00 2,226.60 Mar 65.00 2,174.70 Apr 60.00 2,122.80 May 60.00 2,122.80 Jun 35.00 1,863.30 Jul 70.00 2,226.60 Aug 86.00 2,392.68 Sep 37.00 1,884.06 Oct 50.00 2,019.00 Nov 96.00 2,496.48 Dec 100.00 2,538.00 10.38 1,500 10,219.20 2,226.60
Shaak Corporation uses customers served as its measure of activity. The company bases its budgets on the following information: Revenue should be $4.20 per customer served. Wages and salaries should be $21,800 per month plus $1.00 per customer served. Supplies should be $0.70 per customer served. Insurance should be $5,700 per month, Miscellaneous expenses should be $3,900 per month plus $0.30 per customer served. The company reported the following actual results for October: Customers served Revenue Wages and salaries Supplies Insurance Miscellaneous expense Required: 22,500 $ 137,300 $ 40,600 $ 16,300 $ 5,580 $ 7,480 Prepare a report showing the company's revenue and spending variances for October. Label each variance as favorable (F) or unfavorable (U). Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Shaak Corporation Revenue and Spending Variances…
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