Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. Hello, This is the first part of an assignment that i already did. Posting the screen shot. After looking at it please help me

A.

Hello, This is the first part of an assignment that i already did. Posting the screen shot. After looking at it please help me solve the second excel. That i will also attach in this question. image text in transcribed

Question to solve is below. please fill out the table after part A THAT IS ALREADY SOLVED.

B.

image text in transcribed

ECO110 Assignment 1 Economic Impacts Template Budgets Budget 1 Dollars Percent $25,000 100% Budget 2 Dollars Percent 100% $25,000 33% 3% 12% Income Expenditures Rent Imported Food Food from the U.S. Utilities Transportation Education Family Care Savings Total $7,500 $1,250 $2,500 $750 $750 $2,500 $2,500 $7,250 $25,000 30% 5% 10% 3% 3% 10% 10% 29% 100% Income Expenditures Rent Imported Food Food from the U.S. Utilities Transportation Education Family Care Savings Total $8,250 $750 $3,000 $500 $500 $2,500 $2,500 $7,000 $25,000 2% 2% 10% 10% 28% 100% Scenario Some friends who know that you are learning problem solving skills and economics have come to you for advice. They have brought with them their family budget from last year (Budget 1) and their current budget for this year (Budget 2). Budget 1 on the left shows how their family used to spend their income of $25,000. At the beginning of this year, they found that rent and the price of imported food have risen, and the price of food from the United States has dropped. They had no change in income, and they changed their purchases to those in Budget 2 on the right. Your friends' family is unhappy that they are buying less of their favorite imported foods, keeping the apartment colder in the winter and warmer in the summer, and walking more instead of taking taxis or using ride sharing services. They are also unhappy about saving less. Your friends know that you are studying personal finance and have asked you how to explain to their family what has happened to their spending. 2. Month 2 Budget Dollars Percent $ Month 3 Budget Dollars Percent $ Income Assignment 3 Financial Analysis Graphs Excel Template Month 1 Budget Dollars Percent Income Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total Income Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total $ 400 $ 100 Assignment 3 Excel Instructions: In this assignment, you will make three monthly budgets. Your income increases each month using embedded formulas, as shown in the tables above. Additionally, in Months 2 and 3, some cells have been filled in with a formula to represent an unexpected expense in that expenditure category for the month. You will need to reallocate your budget around these expenses. 1. Fill in the Month 1 Budget based on your annual budget from Assignment 2. Remember that Assignment 2 was looking at your annual budget. So, to get the number for your monthly budget, you will need to divide by 12. 2. Notice that your income for Month 2 and Month 3 have been auto-calculated. Use these income numbers to plan your budgets in these months. Also, as noted in the instructions, notice that your "Health Care" costs for Month 2 and your "Miscellaneous" costs for Month 3 have auto-calculated. Do not change these numbers. You will need to plan around them. 3. For Month 2 and Month 3, fill in the cells for each category for how you are choosing to allocate your income in each of those months. 4. Use formulas to calculate the sum for your total in the "Dollars" columns, and fill in the "Percent" columns for each monthly budget. 5. Now produce a graphic for each of these three budgets to show the spending allocation. You could use a pie chart, bar chart, or other graphic from Excel. You will end up with three graphics, one for each month. Each graphic should show how you have allocated your income among the various categories. 6. Complete the Financial Goal Savings Progress table by entering in the "Savings" amount from each of your three monthly budgets. Use a formula to calculate how much you have left to save using the dollar amount of your chosen savings goal from Assignment 2. 7. Create a graphic that shows your progress toward your savings goal based on the information you input into the Financial Goal Savings Progress table. Select the type of graphic that you think would best illustrate your progress. 8. Put the graphics in the space below on this spreadsheet. ECO110 Assignment 1 Economic Impacts Template Budgets Budget 1 Dollars Percent $25,000 100% Budget 2 Dollars Percent 100% $25,000 33% 3% 12% Income Expenditures Rent Imported Food Food from the U.S. Utilities Transportation Education Family Care Savings Total $7,500 $1,250 $2,500 $750 $750 $2,500 $2,500 $7,250 $25,000 30% 5% 10% 3% 3% 10% 10% 29% 100% Income Expenditures Rent Imported Food Food from the U.S. Utilities Transportation Education Family Care Savings Total $8,250 $750 $3,000 $500 $500 $2,500 $2,500 $7,000 $25,000 2% 2% 10% 10% 28% 100% Scenario Some friends who know that you are learning problem solving skills and economics have come to you for advice. They have brought with them their family budget from last year (Budget 1) and their current budget for this year (Budget 2). Budget 1 on the left shows how their family used to spend their income of $25,000. At the beginning of this year, they found that rent and the price of imported food have risen, and the price of food from the United States has dropped. They had no change in income, and they changed their purchases to those in Budget 2 on the right. Your friends' family is unhappy that they are buying less of their favorite imported foods, keeping the apartment colder in the winter and warmer in the summer, and walking more instead of taking taxis or using ride sharing services. They are also unhappy about saving less. Your friends know that you are studying personal finance and have asked you how to explain to their family what has happened to their spending. 2. Month 2 Budget Dollars Percent $ Month 3 Budget Dollars Percent $ Income Assignment 3 Financial Analysis Graphs Excel Template Month 1 Budget Dollars Percent Income Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total Income Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total Expenditures Housing Food Transportation Education Utilities Taxes Health Care Family Care Miscellaneous Savings Total $ 400 $ 100 Assignment 3 Excel Instructions: In this assignment, you will make three monthly budgets. Your income increases each month using embedded formulas, as shown in the tables above. Additionally, in Months 2 and 3, some cells have been filled in with a formula to represent an unexpected expense in that expenditure category for the month. You will need to reallocate your budget around these expenses. 1. Fill in the Month 1 Budget based on your annual budget from Assignment 2. Remember that Assignment 2 was looking at your annual budget. So, to get the number for your monthly budget, you will need to divide by 12. 2. Notice that your income for Month 2 and Month 3 have been auto-calculated. Use these income numbers to plan your budgets in these months. Also, as noted in the instructions, notice that your "Health Care" costs for Month 2 and your "Miscellaneous" costs for Month 3 have auto-calculated. Do not change these numbers. You will need to plan around them. 3. For Month 2 and Month 3, fill in the cells for each category for how you are choosing to allocate your income in each of those months. 4. Use formulas to calculate the sum for your total in the "Dollars" columns, and fill in the "Percent" columns for each monthly budget. 5. Now produce a graphic for each of these three budgets to show the spending allocation. You could use a pie chart, bar chart, or other graphic from Excel. You will end up with three graphics, one for each month. Each graphic should show how you have allocated your income among the various categories. 6. Complete the Financial Goal Savings Progress table by entering in the "Savings" amount from each of your three monthly budgets. Use a formula to calculate how much you have left to save using the dollar amount of your chosen savings goal from Assignment 2. 7. Create a graphic that shows your progress toward your savings goal based on the information you input into the Financial Goal Savings Progress table. Select the type of graphic that you think would best illustrate your progress. 8. Put the graphics in the space below on this spreadsheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Theory And Practice

Authors: Eugene F. Brigham, Michael C. Ehrhardt

10th Edition

0030329922, 9780030329920

More Books

Students also viewed these Finance questions

Question

6. Talk among students, such as giving help or socializing

Answered: 1 week ago