preparing a budget sheet pp. 149-152 3-2 section
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Preparing a Budget Sheet pp. 149-1523-2SECTIONSECTION
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 2 of 16
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Section ObjectiveSection ObjectiveUse:
• records of past expenditures to prepare a monthly budget sheet
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 3 of 16
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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 KnowKey Words to Know
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 4 of 16
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annual expenses (p. 149)
Expenses which occur once a year, such as insurance premiums and real estate taxes.
Key Words to KnowKey Words to Know
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 5 of 16
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Total Monthly Monthly Monthly Share Monthly = Living + Fixed + of AnnualExpenses Expenses Expenses Expenses
FormulaFormula
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 6 of 16
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Why do you think Classified’s expenses were highest last summer?
A Rock Star’s Lyrical Leverage p. 149A Rock Star’s Lyrical Leverage p. 149
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 7 of 16
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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 1Example 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 8 of 16
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Step: Find the total monthly expenses.
Monthly Monthly Monthly Share Living + Fixed + of AnnualExpenses Expenses Expenses
$505.00 + $978.50 + $219.29
= $1,702.79
Example 1 AnswerExample 1 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 9 of 16
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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 2Example 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 10 of 16
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Find the monthly share of annual expenses.
Annual Expenses 12
$4,974 = $414.50 12
Example 2 Answer: Example 2 Answer: Step 1Step 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 11 of 16
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Add up the expenses.
Monthly Monthly Monthly Share Living + Fixed + of AnnualExpenses Expenses Expenses
$875.00 + $1,025.80 + $414.50 = $2,315.30
Example 2 Answer: Example 2 Answer: Step 2Step 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 12 of 16
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Find the total monthly expenses.
Living: $846
Fixed: $1,560
Annual expenses: $4,644
Practice 1Practice 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 13 of 16
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$2,793
Practice 1 AnswerPractice 1 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 14 of 16
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Find the total monthly expenses.
Living: $638
Fixed: $972
Annual expenses: $4,980
Practice 2Practice 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 3-2, Slide 15 of 16
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$2,025
Practice 2 AnswerPractice 2 Answer
Preparing a Budget Sheet3-2END OF SECTIONEND OF SECTION
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