The Brandon household has monthly income of %5,630 on which to base their budget. They plan to save 10% and spend 32% on fixed expenses and 56% on variable expenses. What amount do they plsn to set aside for each budget section in Savings, fixed expenses, and variable expenses?

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Asked Oct 25, 2019
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The Brandon household has monthly income of %5,630 on which to base their budget. They plan to save 10% and spend 32% on fixed expenses and 56% on variable expenses. What amount do they plsn to set aside for each budget section in Savings, fixed expenses, and variable expenses?

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Step 1

Monthly budget is calculated on the base income of $5,630

According to the information provided.

Monthly Income = $5630

Percentage to save = 10%

Percentage to spend on fixed expenses = 32%

Percentage to spend on variable expenses = 56%

Step 2

Amount set aside for each budget section is calcu...

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Savings Percentage to save x Monthly Income =10 %x 5630 -S563 Fixed expenses Percentage to fixed expenses x Monthly Income 32% x 5630 =$1,801.60 Variable expenses = Percentage to variable expense x Monthly Income =56% x 5630 S3,152.80

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