CASE STUDY: Selina$$s Saloon

Selina is the owner of a hair salon, called $$Selina$$s Saloon$.$

She has three people working for her. The receptionist, the apprentice and the cleaner. She pays each a monthly salary. Her own monthly income totals $3000$ euro$$s a month.

Her monthly expenses include Rent, electricity, water, cellphone charges, coffee for the clients, hair dye, shampoo&conditioner to name a few.

$1\mathrm{.}3\mathrm{.}1.$ Explain the purpose and benefits of budgeting for Selina$$s Saloon

$1\mathrm{.}3\mathrm{.}2.$ Create a monthly budget for Selina$$s Saloon and illustrate the following:

$$ Her income and expenses. $($Give fictional amounts to her expenses$)$

$$ Also illustrate her planned expenses $($Budgeted$)$ against her actual expenses and $$ Show the variance between the planned expense and the actual expense.