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3 years ago

What features makes up a good budget

Business

2 answers:

kicyunya [14]3 years ago

7 0

- Flexibility

- Attainability

- Fixed expenses

- Recordings of spending and track progress

- Support from management

- An understanding of your debt and current income

umka21 [38]3 years ago

7 0

Most budgets (no matter how simple or detailed) have some of the same few problems that keep rearing their ugly heads. To avoid them, here are the top ten most important features of a successful budget. Categories that fit your personal situation and your spending habits, not somebody else's.

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Problem 9-1 Comparing Renting and Buying [LO9-2] Rental Costs Buying Costs Annual rent $ 7,380 Annual mortgage payments $ 9,800

s2008m [1.1K]

Answer:

Computation of Rental Costs

Particulars Amount

Rent $7,380

Insurance $145

Loss of Interest on Security Deposit $39 ($650*6%)

Total Rental Costs $7,564

Computation of Buying Costs

Particulars Amount

Annual Mortgage Payments $9,800

Taxes, Insurance and Maintenance $2,830 ($1,050+$1,780)

Loss of Interest on Down Payment $270 (4,500*6%)

Growth in Equity -$225

Annual Appreciation -$1,700

Mortgage Interest Tax Savings -$2,681 (9,575*28%)

Tax Savings from Property Taxes -$498 (1,780*28%)

Total Buying Costs $7,796

b. Based on the cost criteria, i would recommend renting as it results in lesser cost

5 0

3 years ago

Brodrick Company expects to produce 21,700 units for the year ending December 31. A flexible budget for 21,700 units of producti

statuscvo [17]

Answer:

$\left[\begin{array}{cccc}&$Flexible Budget&$Actual&$Variance\\$Sales&548,000&500,000&48000U\\$Variable&-82,200&-113,700&31,500U\\$Contribution&465,800&386300&79,500U\\$Fixed Cost&-142,000&-134,000&8,000F\\$Income&323,800&252300&71,500U\\\end{array}\right]$

Explanation:

Sales Price: 434,000 / 21,700 = 20

Variable cost: 65,100 / 21,700 = 3

fixed cost: 142,000

Values at 27,400 units:

sales: 27,400 units x $20 = 548,000

variable cost: 27,400 units x $3 = 82,200

Now, we compare with the actual result and calcualte the income

3 0

4 years ago

When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply cu

frutty [35]

Answer:D. the marginal cost curve determines the quantity of output the firm is willing to supply at any price.

Explanation: The marginal cost is the change in total cost of producing a set of product as a result of adding one more unit to the production.

For example, if a firm has to buy one more production equipment in order to increase the number of product is the cost associated with that additional equipment is a MARGINAL COST.

THE MARGINAL COST CURVE DESCRIBES THE RELATIONSHIP BETWEEN THE MARGINAL COST OF A FIRM IN THE SHORT-TERM PRODUCTION OF A GOOD OR SERVICE AND THE QUANTITY OF FINISHED GOODS PRODUCED BY A FIRM.

6 0

3 years ago

What is the starting salary of an entry level librarian? it could hour wage or yearly.

chubhunter [2.5K]

Answer:

$46k–84kper year

Explanation:

8 0

3 years ago

Read 2 more answers

BPS reported the following data for its first year of operations: Sales Revenue $8,000 Cost of Goods Available for Sale 6,200 Op

Fittoniya [83]

Answer:

D. $952

Explanation:

The computation of the net income in the case when the LIFO is elected

Particulars AMount

Net sales $7,232 ($8,000 - $640 - $128)

less : cost of goods sold ($6,200 - $820) $5,380

Gross Profit $1,852

Less: Operating Expenses $900

Income before taxes $952

less: Income tax $0

Net income $952

Hence, the net income is $952

5 0

3 years ago