Zora is budgeting her available time for the next couple days. She spent 2/5 of her time on homework and then 3/10 of her time on the internet. Homework and time on the internet consumed 14 hours. How much available time did Zora have to budget?
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Zora is budgeting her available time for the next couple days. She spent 2/5 of her time on homework and then 3/10 of her time on the internet. Homework and time on the internet consumed 14 hours. How much available time did Zora have to budget?
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- Brianna is creating a budget. The expenses she pays monthly are $500 for rent, $120 for gas for her car, $100 for health insurance, $75 for auto insurance, $25 for renters' insurance, $110 for her cell phone, $170 for utilities, about $320 for groceries, and about $250 for entertainment. In addition, over the entire year she spends $12,000 for college expenses, about $800 on gifts for family and friends, about $1800 for vacations at spring and winter break, about $800 on clothes, and $500 in gifts to charity. Her income consists of a monthly, after-tax paycheck of about $2600 and a $3000 scholarship that she received at the beginning of the school year. a) What is the total of Brianna's monthly expenses? $ b) What is the total of Brianna's monthly income? $ c) What is her total monthly cash flow? $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 2/19Sandra's net income is $1247 per week. Sandra is trying to stick to a budget and allocates 20% of her pay to "wants." How much does Sandra have to spend on wants per week?
- 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.…Trevor and Kristen Hill need to prepare a cash budget for the next three months to make sure that they can cover their expenditures during the period. Trevor and Kristen have tracked their finances for the past few years using an app, and thus know what percentage of their take-home pay of $5500 goes for various expenses. Expenses Housing Utilities Food Transportation Medical/dental Contributions Clothing (3% normally; $450 in Month 3) Property Taxes ($1260, Month 2 only) Appliances Personal Care Travel and Entertainment (6%; $1400 in Month 3) Other Savings 29.0% 5.0% 9.5% 6.0% 5.0% 10.5% 3.0% a. 1.0% 2.0% 6.0% 5.0% 7.5% The Hills must maintain a $1500 cash balance to avoid checking fees; however, the balance on March 31, 2021 was $1300. Their savings account balance on March 31 was $20,000. Prepare a quarterly cash budget for Trevor and Kristen for the next three months. b. Using your calculations, show the monthly inflows and outflows and the end-of-month balances for the Hills…Carl is a student at a college. He has a part-time job with take-home pay of $525 every two weeks. He has received a scholarship of $4100 this year. a) Use the data provided to design a monthly budget for Carl. Show your calculations for his income and expenses. Identify each expense as fixed or variable. b) Is Carl earning enough to cover his expenses? If not, suggest how he could balance the budget
- Jane budgets 9% of her net salary for groceries. If she spent $450 on groceries last month, what is her monthly net salary?This is Ben’s budget. Use his budget to determine the answer to the following question: Calculate Ben’s total amount of monthly expenses.The Yeung family is using the Quantitative Reasoning Process to set up a monthy budget. They have a monthly income of $4,365. In July, their monthly expenses were $3,113, their monthly state and federal taxes totaled $778, and they contributed $230 to their savings plan. What was the Yeung's monthly cash flow for July? O $0 (Their income is exactly the same amount as they are spending and saving.) $244 (Their income is a little more than they are spending and saving.) O -$508 (Their income is a lot less than they are spending and saving. They are going into debt) $508 (Their income is a lot more than they are spending and saving.) -$244 (Their income is a little less than they are spending and saving. They are going into debt)
- Peter and Cindy each had some money at first. Peter started spending $1.20 daily. After 15 days, Cindy started spending 1 2/3 of what Peter spent daily. When CIndy spent all of her money, she had spent $11.60 more than Peter. a) How many days did Cindy take to spend all of her money? b) How much did Peter spend in total when Cindy spent all of her money? Eieiwwiwiwkwkkwa Don’t use an ai10. Cameron is in grade 12 and works part-time in a bike shop. His monthly budget is shown. Expenses ($) transportation clothes Income ($) March 1-15 458.68 109.00 March 16-30 494.02 100.00 entertainment 125.00 college savings 200.00 car fund 175.00 motorcycle lessons 250.00 What should Cameron do to his budget, if his income remains the same for the next month? a. Increase his clothing expense by at least $6. b. Reduce his clothing expense by $2. c. Reduce his clothing expense by at least $7. d. His budget is already balanced.Erika took a total of 10 pages of notes during 2 hours of class. In all, how many will Erica have to spend in class before she will have a total of 15 pages of notes in her notebook? Solve using unit rates. hours