The Brandon household has a monthly income of $5,830 on which to base their budget. They plan to save 10 percent and spend 32 percent on fixed expenses and 56 percent on variable expenses. a. What amount do they plan to set aside for each major budget section? (Round your answers to 2 decimal places.) Savings Fixed expenses Variable expenses b. After setting aside these amounts, what amount would remain for additional savings or for paying off debts? (Round your answer to 2 decimal places.) Remaining amount Fran Powers created the following budget and reported the actual spending listed. Calculate the variance for each of these categories, and indicate whether it was a deficit or a surplus. (Input all amounts as positive values.) Item Variance Deficit/Surplus Budgeted $ 335 Actual $ 295 $ 332 $ 369 Food Transportation Housing Clothing Personal $ 920 $ 978 $ 135 $ 208 $ 315 $ 231 Use future value and present value calculations (Use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: a. The future value of a savings deposit of $1,200 after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decimal places and final answer to 2 decimal places.) Future value b. The future value of saving $3,000 a year for three years at an annual interest rate of 5 percent. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Future value Brenda plans to reduce her spending by $60 a month. What would be the future value of this reduced spending over the next 13 years? (Assume an annual deposit to her savings account and an annual interest rate of 5 percent.) Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Future value Kara George received a $20,000 gift for graduation from her uncle. If she deposits this in an account paying 5 percent, what will be the value of this gift in 11 years? Use Exhibit 1-A. (Round FV factor to 3 decimal places and final answer to the nearest whole dollar.) Future value