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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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
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.
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
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…
s
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9-18 Bill made a budget and planned to deposit $150 a month in a savings account, beginning September 1. He did this, but on the following January 1, he reduced the monthly deposits to $100. He made 18 deposits, four at $150 and 14 at $100. If the sav- ings account paid 6% interest, compounded monthly, what was the future worth of his savings immediately after the last deposit? 9-18 $150 tiili $100 i= ½% F F = $150 (F/A, ½%, 4) (F/P, ½%, 14) + $100 (F/A, ½%, 14) = $150 (4.030) (1.072) + $100 (14.464) = 2,094.42 %3D %3D %3D

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