Please help! I'm not sure what goes into the savings. It's where the red "X" is.
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 "O" for any unused categories. $270 $140 Actual Amounts Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy-day savings Entertainment: Cake decorating class Movies with friends $30 Monthly expenses: $2,370 Rent obligation $1,970 Utilities/electricity Utilities/water $135 Utilities/cable TV $25 Food Gas/maintenance $20 Credit card payment $55 Car Insurance Clothing $165 $170 $215 $25 $85 $155 $230 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 Monthly Expenses: $1,900 Rent obligation $4,400 Utilities/electricity $5,300 Utilities/water $1,150 Utilities/cable TV Food $6,700 Gas/maintenance $1,050 Credit card payment Car Insurance $2,205 Clothing $1,805 Entertainment: Cake decorating class $135 Movies with friends $25 $80 $40 $125 $120 $100 $50 $50 $50 $20 $55 Income (Inflows) Answer is not complete. Budgeted Amounts Dollar Percent Actual Amounts 1,805 100% $ 1,970 0% 1,805 100% $ 1,970 Variance Salary Other Total income (165) 0 (165) Budgeted Amounts Dollar Percent Actual Amounts Variance 0 $ 135 135 50 0.00% 7.48% 2.77% 10.25% $ $ 50 185 0 $ 185 Disbursements (Outflows) Emergency fund savings Emergency fund Savings (regular) Savings Total savings Fixed expenses Mortgage or rent Property taxes Loan/credit card payment Insurance Other Total fixed expenses Variable expenses Food Utilities 230 230 0 12.74% 0.00% 0 50 2.77% 50 $ $ $ 50 50 2.77% 0.00% 18.28% 0 $ 330 $ $ 0 330 $ 120 120 6.65% 13.57% $ $ $ 245 245 50 50 100 2.77% 5.54% 0.00% $ $ 100 0 0 0 0.00% 0 75 $ 75 Clothing Transportation costs Personal care Medical and health care Entertainment Education Gifts/donations Miscellaneous Other Total variable expenses Total expenses HA 0 0 0 4.16% 0.00% 0.00% 0.00% 0.00% 0 0 0 $ $ 0 0 $ 590 32.69% $ 0 590 $ $ $ $ 1,105 61.22% 0 1,105 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 "O" for any unused categories. $270 $140 Actual Amounts Income: Gross monthly salary Net monthly salary Savings allocation: Regular savings Rainy-day savings Entertainment: Cake decorating class Movies with friends $30 Monthly expenses: $2,370 Rent obligation $1,970 Utilities/electricity Utilities/water $135 Utilities/cable TV $25 Food Gas/maintenance $20 Credit card payment $55 Car Insurance Clothing $165 $170 $215 $25 $85 $155 $230 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 Monthly Expenses: $1,900 Rent obligation $4,400 Utilities/electricity $5,300 Utilities/water $1,150 Utilities/cable TV Food $6,700 Gas/maintenance $1,050 Credit card payment Car Insurance $2,205 Clothing $1,805 Entertainment: Cake decorating class $135 Movies with friends $25 $80 $40 $125 $120 $100 $50 $50 $50 $20 $55 Income (Inflows) Answer is not complete. Budgeted Amounts Dollar Percent Actual Amounts 1,805 100% $ 1,970 0% 1,805 100% $ 1,970 Variance Salary Other Total income (165) 0 (165) Budgeted Amounts Dollar Percent Actual Amounts Variance 0 $ 135 135 50 0.00% 7.48% 2.77% 10.25% $ $ 50 185 0 $ 185 Disbursements (Outflows) Emergency fund savings Emergency fund Savings (regular) Savings Total savings Fixed expenses Mortgage or rent Property taxes Loan/credit card payment Insurance Other Total fixed expenses Variable expenses Food Utilities 230 230 0 12.74% 0.00% 0 50 2.77% 50 $ $ $ 50 50 2.77% 0.00% 18.28% 0 $ 330 $ $ 0 330 $ 120 120 6.65% 13.57% $ $ $ 245 245 50 50 100 2.77% 5.54% 0.00% $ $ 100 0 0 0 0.00% 0 75 $ 75 Clothing Transportation costs Personal care Medical and health care Entertainment Education Gifts/donations Miscellaneous Other Total variable expenses Total expenses HA 0 0 0 4.16% 0.00% 0.00% 0.00% 0.00% 0 0 0 $ $ 0 0 $ 590 32.69% $ 0 590 $ $ $ $ 1,105 61.22% 0 1,105
