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Norma-Jean [14]
2 years ago
15

For this lab, you will create and fill out a personal budget representing your monthly “costs” as a student. To start, check out

the following website, which discusses how to fill out a budget.
Read through the tips provided to get some slightly more specialized budget information. We recommend taking a close look at the sample monthly budget for teens.

You’ll be making a customized budget for yourself. You can use the provided blank template on the site (“Your Monthly Budget”) to form the basis of your budget sheet, or you can create one yourself using other online templates as a starting point and inspiration. For each item in your budget, consider what it costs to fill that need in an average month.

Start with income. If you don’t have any income, that’s ok! It’s still useful to know how much you spend each month, regardless of whether you have money coming in. If you do work, have an allowance, or in any other way reliably generate some cash from month to month, be sure to note that; otherwise, create an income entry that just says “N/A” or zero.
When it comes to tracking where your money goes, being more specific is great, but for this exercise you can always bundle items into subcategories. For example, gas, water, trash, and electricity costs are all good to account for individually, but you can total them up and list them as “utilities” to save space. When deciding on the categories where you will allocate your spending, take a look at the categories on the provided template if you get stuck; they provide great examples. For instance, most of you surely spend money on “entertainment” (movies, monthly Netflix costs, etc.), and if you’re an avid reader or eat out a lot, specialized entries for those categories will make sense.
Even if you yourself don’t buy the groceries that you eat, you should have a sense of how much is spent to feed you each month—ask your parents for help, or go to the grocery store with a calculator! And don’t forget your “share” of utilities—for example, your cell phone bill, rent, electricity, cable/internet, even how much any insurance costs each month. If getting exact numbers is tricky, you can usually search online to find average costs for most of these expenses by neighborhood or zip code. If you can’t even begin to figure out how much your share of a cost is, include it anyway by noting N/A or “???” to indicate the amount is unclear.
At the very least, your budget should absolutely include categories for rent, utilities, groceries, and at least one column with discretionary/fun/charitable spending.
After you’ve identified all sources of income and figured out everything you can in terms of how much it costs to just be you each month, check out this website for more detailed instructions on what to do with a budget.
In particular, you definitely want to focus on breaking expenses into two categories: fixed and variable. Divide your items into those two categories, then sum up the values for each one. Which costs you more each month?
Write a short paragraph reflecting on this experience; in particular, examine the overall costs per month and assess the difference between your fixed and variable costs. Does this encourage you to change anything about the way you might spend money in the future?
For this assignment, submit both the spreadsheet containing your budget and your paragraph of reflection.
Business
1 answer:
nevsk [136]2 years ago
8 0

Answer:

t6g6fgg gy

Explanation:

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Compare and contrast the three options from the perspective of cost. Which one do you believe will provide the most economical s
Anvisha [2.4K]

Incomplete question. The full question read:

Power Force Corporation Kip Himmer, executive vice president of operations of Power Force Corporation (PFC), is feeling stressed out. The producer of power tools for the do-it-yourself market is experiencing higher fulfillment costs as retailers change their buying patterns. They all seem to want smaller, more frequent shipments to a larger number of locations. And, the retailers' service expectations are on the rise. They are demanding advanced shipping notification, RFID tags on all products, and improved inventory visibility. Gone are the days when the retailers bought power tools by the truckload for delivery to a few regionally dispersed distribution centers. Instead, they are asking for smaller shipments to multiple distribution centers and direct delivery to stores. Some retailers are also inquiring about PFC's ability to deliver orders for individual customers direct to their homes. This drop-shipping strategy is completely new to PFC and Himmer worries that it could create major bottlenecks at the company's centralized delivery center that sits next to the factory in Louiseville Kentucky. And, all of these new requirements are accompanied by shorter order cycle time goals. Himmer feels that he is stuck between a rock and a hard place as the major home improvement chain stores (Home Depot, Lowe's, and True Value) account for more than 80 percent of PFC's sales. Although compliance is proving to be very expensive, PFC cannot afford to deny the requests. Doing so would have an unwelcome effect on revenues. After consulting with his fulfillment team, Himmer has come to the conclusion that he has three reasonable options to address the emerging marketplace requirements.

Option 1 - Upgrade the existing PFC distribution center in Kentucky to handle multiple order types and smaller shipments. Deploy warehouse automation to improve order fulfillment speed and efficiency.

Options 2 - Expand the PFC fulfillment network. Add regional distribution centers in Nevada and New Jersey to the existing Kentucky distribution center. Modify operational processes and flows so that orders for delivery centers, stores, and individual consumers can be fulfilled.

Options 3 - Outsource fulfillment to a capable third party logistics company so that PFC can focus its efforts on quality production, accurate demand planning, and lean inventory management.

Himmer's next step is to fully evaluate the three options and choose a path forward before his upcoming meeting with Marcia Avis, the owner of PFC. Avis will ask tough questions and Himmer must be confident in his recommendations.

<em>Compare and contrast the three options from the perspective of customer service. Which one do you believe will provide the most economical solution for PFC?</em>

Answer:

<u>Options 3 - Outsource fulfillment to a capable third party logistics company so that PFC can focus its efforts on quality production, accurate demand planning, and lean inventory management.</u>

Explanation:

In terms of cost, it will be preferable if Himmer outsourced the fulfillment objectives to another company that is capable because if for example, they decide to go with:

option 1: they will need to set aside large funds investing in physical infrastructure; such as upgrading the existing PFC distribution center in Kentucky, buying warehouse automation tools, etc. Or they chose;

option 2: It also requires even more funds to be able to expand and add new regional distribution centers in Nevada and New Jersey, etc.

7 0
2 years ago
What are some examples of trade controls?​
aleksandrvk [35]

The use oftrade controls to reduce foreign competition in order to protect domestic industries.

Hope this helps! :)

5 0
2 years ago
Which three activities are part of the function of accounting?
IgorC [24]

The 3 activities which are part of the function of accounting includes:

  • Classifying financial transactions
  • interpreting financial transactions
  • Recording financial transactions

Accounting (<em>including bookkeeping</em>) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.

As regards the options, 3 activities which are part of the function of accounting includes:

  • Classifying financial transactions
  • interpreting financial transactions
  • Recording financial transactions

In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.

Missing word includes <em>"1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"</em>

<em />

Read more about this here

<em>brainly.com/question/15393400</em>

4 0
2 years ago
Under MSRB rules, a registered representative is prohibited from sharing in the gains and losses of a customer's account unless
skad [1K]

Answer:

D)

Explanation:

This is the case unless the registered representative contributes capital proportionate to his sharing percentage and receives written approval of the principal. This is because the MSRB clearly prohibits this, but if the registered representative opens a joint account with the customer (granted the customer approves), and shares in both the gains and losses of the account with a proportionate capital contribution, then both are entering into the same risk and are allowed to share in the gains and losses. This is as long as the principal provides written approval.

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3 years ago
(Numeric Entry) Suppose you put $1000 into a money market mutual fund that paid 10% a year, where interest was compounded annual
kkurt [141]

Answer:

$1100

Explanation:

Compound Interest is a multiplying effect interest , in which interest for each successive period  is calculated on (Principal + Interest) of each preceeding period .

Formula :  A = P(1+r/n) power 'nt  .

r = Interest rate , t = time , n = compound in time 't' , P = Principal

A = 1000 (1+10/1) power'(1X1) = 1000 X 11 power 1' = 1000 X 11 = 1100

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3 years ago
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