Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Department of Customer Services Accounting Division bases its budget request for the following year on the average of its actual expenses for the previous
The Department of Customer Services Accounting Division bases its budget request for the following year on the average of its actual expenses for the previous four years. The division has both fixed costs, which remain the same year-to-year, and variable costs, which fluctuate year-to-year. Each years budget request is determined by adding the fixed costs for the current year to the average of the variable costs for the previous four years. Below is a summary of the Accounting Divisions fixed and variable costs for the years 2018 through 2021.
\begin{tabular}{|c||c|c|c|c|} \hline Fixed Costs & 2018 & 2019 & 2020 & 2021 \\ \hline Facility Fee & 31,569.98 & 31,569.98 & 31,569.98 & 31,569.98 \\ \hline SoftwareLicenses & 3,146.25 & 3,146.25 & 3,146.25 & 3,146.25 \\ \hline TelephoneandInternetServices & 2,146.36 & 2,146.36 & 2,146.36 & 2,146.36 \\ \hline \multicolumn{4}{|l|}{} \\ \hline Variable Costs & 2018 & 2019 & 2020 & 2021 \\ \hline Staffing & 381,658.12 & 378,368.78 & 375,658.04 & 382,459.05 \\ \hline Staff Training & 1,568.82 & 1,023.54 & 998.12 & 1,756.33 \\ \hline Supplies & 2,368.79 & 2,123.45 & 2,235.23 & 2,568.69 \\ \hline \end{tabular} 26. According to the information above, what will the accounting division's approximate budget be for the year 2022 ? a. $420,059 b. $423,647 c. $1,569,650 d. $1,680,237 Mark to review laterStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started