Question
Use the following information to answer the following question about John. Item Budget Actual Difference Income $9,000 $9,000 Rent $2,000 $2,000 Utilities $1,000 $800 +200
Use the following information to answer the following question about John.
Item | Budget | Actual | Difference | ||||
---|---|---|---|---|---|---|---|
Income | $9,000 | $9,000 | |||||
Rent | $2,000 | $2,000 | |||||
Utilities | $1,000 | $800 | +200 | ||||
Taxes | $3,000 | $3,100 | -100 | ||||
Transportation | $500 | $700 | -200 | ||||
Food at Home | $400 | $300 | +100 | ||||
Food Away from Home | $500 | $800 | -300 | ||||
Debt Payments | $1,200 | $1,200 | |||||
Savings | $400 | $25 | |||||
TOTAL EXPENSES | |||||||
SURPLUS/DEFICIT |
Which of the following is true?
A. John is doing a good job managing his resources according to his budget.
B. While John did exceed his budget, he is financially stable because of his excess savings.
C. John is doing a poor job managing his resources given the monthly deficit in spending.
D. Although John did not exceed his budget, he was not able to save as much as projected.
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