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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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Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost
arsen [322]

Answer:

A.Dr Materials 504,800

Cr Account payable 504,800

B.Dr Work in process 487,300

Dr Factory overhead 4500

Cr Materials 491,800

C.Fabric Ployester filling Lumber Glue

$29,400 $16,100 $30,400 $6,500

Explanation:

Entries for Materials Kingsford Furnishings

a) Journal entry

Fabric $96,600

Polyester filling 134,300

Lumber 264,700

Glue 9,200

Total 504,800

Dr Materials 504,800

Cr Account payable 504,800

b) Journal entry

Dr Work in process 487,300

(491,800-4500)

Dr Factory overhead 4500

Cr Materials 491,800

c) Calculation of the ending balance

Fabric Ployester filling Lumber Glue

Beginning balance

$19,100 5,700 42,800 1,800

Purchase

$96,600 134,300 264,700 9,200

Used

-$86,300 -$123,900 -$277,100 -$4,500

Ending balance

$29,400 $16,100 $30,400 $6,500

3 0
3 years ago
If Southwest Development Company is a​ 50-50 partnership of Merideth Harper and Christopher​ Black,: ​(Select the best answer​ b
Kobotan [32]

Answer:

The answer is: A) Ms. Harper has unlimited​ liability, which means creditors can claim against her personal assets.

Explanation:

One of the most important characteristic of a partnership is unlimited liability. That means that in case the partnerships goes bankrupt, the partners are responsible for paying the partnership´s debt even with their own personal assets.

If one partner doesn´t have enough assets to meet his share of the debt, the other partner (or partners) can be held liable for the unpaid debt.

5 0
3 years ago
Assume that Corn Co. sold 7,600 units of Product A and 2,400 units of Product B during the past year. The unit contribution marg
Afina-wow [57]

,Answer: a. 9,450 units

Explanation:

You need to find the weighted average contribution margin for both products.

Product A

Weighted average contribution margin = Contribution margin * Units sold / Total units sold

= 34 * 7,600 / (7,600 + 2,400)

= $25.84

Product B

= 59 * 2,400 / 10,000

= $14.16

Breakeven point in units = Fixed costs/ (Weighted average contribution margin of both A and B)

= 378,000 / (25.84 + 14.16)

= 9,450 units

5 0
2 years ago
When researchers calculate a basketball star's net worth they are measuring the star's _____.
polet [3.4K]
The answer is letter b, income and the wealth. The net worth is a way of having to measure the over all asset of the individual in which his or her income as well as his or her wealth that he or she has or acquires. The answer is letter b.
6 0
3 years ago
Airborne Airlines Inc. has a $1,000 par value bond outstanding with 20 years to maturity. The bond carries an annual interest pa
ivann1987 [24]

Answer:

7.52%

Explanation:

First and foremost ,the yield to maturity on the old issue is computed using the rate formula in excel as calculated below:

=rate(nper,pmt,-pv,fv)

the nper is the number of times the bond would pay annual coupon interest of $106,which is 20 times

pmt is the amount of annual coupon payment which is $106

pv is the current price of the bond at $860

fv is the face value of the bond at $1000

=rate(20,106,-860,1000)=12.54%

The yield to maturity on the new issue is 12.54%  as well

after-tax cost of debt=pretax cost of debt*(1-t)

pretax cost of debt is yield to maturity of 12.54%

t is the tax rate of 40% or 0.4

after-tax cost of debt=12.54% *(1-0.4)=7.52%

5 0
3 years ago
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