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Preparing a Budget Sheet pp. 149-152 3- 2 SECTION

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SECTION. 3-2. pp. 149-152. Preparing a Budget Sheet. Use: records of past expenditures to prepare a monthly budget sheet. Section Objective. Key Words to Know. living expenses (p. 149) Routine expenses, such as food, utilities, and clothing, that vary from month to month. - PowerPoint PPT Presentation

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  • Preparing a Budget Sheetpp. 149-1523-2SECTION

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Use:records of past expenditures to prepare a monthly budget sheetSection Objective

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    living expenses (p. 149)Routine expenses, such as food, utilities, and clothing, that vary from month to month.fixed expenses (p. 149)Regular expenses that do not vary from month to month, such as rent and car payment.Key Words to Know

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    annual expenses (p. 149)Expenses which occur once a year, such as insurance premiums and real estate taxes.Key Words to Know

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Total Monthly MonthlyMonthly Share Monthly = Living + Fixed + of AnnualExpensesExpensesExpenses ExpensesFormula

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Why do you think Classifieds expenses were highest last summer?A Rock Stars Lyrical Leverage p. 149

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    The Millers use records of their past expenditures to complete the budget sheet shown on page 150 in your textbook. What is the total of their monthly expenses?Example 1

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Step: Find the total monthly expenses. Monthly MonthlyMonthly Share Living + Fixed + of AnnualExpenses Expenses Expenses $505.00 + $978.50 + $219.29

    = $1,702.79Example 1 Answer

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    The Browns have monthly living expenses of $875.00, monthly fixed expenses of $1,025.80, and annual expenses of $4,974.00. After calculating the Browns monthly share of annual expenses, find their total monthly expenses.Example 2

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Find the monthly share of annual expenses.Annual Expenses 12

    $4,974 = $414.50 12Example 2 Answer: Step 1

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Add up the expenses. Monthly Monthly Monthly Share Living + Fixed + of AnnualExpenses Expenses Expenses

    $875.00+$1,025.80 + $414.50 =$2,315.30Example 2 Answer: Step 2

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Find the total monthly expenses.Living: $846Fixed: $1,560Annual expenses: $4,644 Practice 1

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    $2,793 Practice 1 Answer

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    Find the total monthly expenses.Living: $638 Fixed: $972 Annual expenses: $4,980Practice 2

    Click to edit Master text stylesSecond levelThird levelFourth levelFifth level***SECTIONCopyright Glencoe/McGraw-HillMBA, Section 3-2, Slide * of 163-2

    $2,025 Practice 2 Answer

  • Preparing a Budget Sheet3-2END OF SECTION