Just to give you some guidelines on the extra credit budget assignment we talked
ID: 2383796 • Letter: J
Question
Just to give you some guidelines on the extra credit budget assignment we talked about. There are two parts:1. Create a hypothetical budget similar to the one you currently would have right now (please leave out anything you are not comfortable sharing). As I said…HYPOTHETICAL numbers.
2. Create a FUTURE budget based on where you want to be in the future. What would your ideal budget look like? What would your housing expenses, cable, electricity, gas, savings amounts, etc all look like? After you figure out what all of your expenses would be in this lifestyle, then I want you to come up with what your take home pay would need to be to make it all happen. I suggest going to www.weichert.com
to find a house where you want to live and once you click on a house, there is a mortgage calculator feature so you can come up with your monthly payments (don’t forget property property tax!). I would like a print screen of the mortgage calculation that you use.
Format: I want two separate pages for 1 and 2. Also, I want it to be in Excel or similar spreadsheet software. The budgets should each reflect monthly amounts and include any notes that you would like me to see on the budget. It is due the class after the next exam.
Explanation / Answer
Budget depend on the basis of requirement of the organization. Now you need to set what basis you prepare budget. In a sales organization simply prepare yearly budget on the followings- 1. Departmental expenses 2. Salary and wages 3. Purchase need expense 4. Distribution expenses 5. Production expenses 6. Interest expense (if take loan) and many more...
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