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Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help
Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help her identify the variances in her budget. Each answer must have a value for the assignment to be complete. Enter "0" for any unused categories.
$2,775 $2,210 Actual Amounts Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy-day savings Entertainment: Cake decorating class Movies with friends $120 $45 Monthly expenses: Rent obligation Utilities/electricity Utilities/water Utilities/cable TV Food Gas/maintenance Credit card payment Car insurance Clothing $350 $165 $85 $155 $255 $250 $90 $120 $190 $80 $40 Monthly Expenses: Rent obligation $1,750 $4,100 $325 $130 $5,000 $1,000 Budgeted Amounts Assets: Checking account Emergency fund savings account Car Computer & iPad Liabilities: Student loan Credit card balance Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy day savings $6,400 $900 Utilities/electricity Utilities/water Utilities/cable TV Food Gas/maintenance Credit card payment Car insurance Clothing Entertainment: Cake decorating class Movies with friends $95 $110 $220 $150 $100 $100 $100 $2,625 $2,060 $80 $40 $120 $45 Budgeted Amounts Income (Inflows) Dollar Actual Amounts Variance $ 2,210 Salary Other Percent NaN NaN NaNNaN $ $ $ (2,210) 0 (2,210) Total income 0 $ 2,210 Disbursements (Outflows) Budgeted Amounts Dollar Percent Actual Amounts Variance $ Emergency fund savings Emergency fund Savings (regular) Savings Total savings Fixed expenses Mortgage or rent Property taxes Loan/credit card payment NaN NaN NaN 0.00% $ 0 $ 0 NaN NaN NaN Insurance NaN Other NaN 0.00% 0 0 $ 0 NaN NaN Total fixed expenses Variable expenses Food Utilities Clothing Transportation costs Personal care Medical and health care NaN NaN NaN NaN Medical and health care NaN A o Entertainment NaN A o Education NaN o A NaN A o NaN A o Gifts/donations Miscellaneous Other Total variable expenses Total expenses A o 0 NaN 0.00% NaN $ $ 0 0 $ $ 0Step by Step Solution
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