a variable expense. … What is most likely the reason variable expenses should be planned after fixed expenses?
Fixed expenses are required and constant, but variable expenses are more flexible
.
Why might variable expenses change a great deal at different times?
The variable expense that can change a great deal at different times of a year is
heating and cooling cost
. Cooling and heating services are a variable cost because they are subject to climatic conditions. They are unpredictable and people don't use these services the same way throughout the year.
When should fixed and variable monthly expenses first be planned?
When should fixed and variable monthly budgeted expenses first be planned?
at the end of each month
. day by day during the month. at the start of each month.
How do you plan variable expenses?
First, track your monthly spending and deduct the total from your income. Ideally, you'll have money left over rather than a zero or negative balance. Separate your variable expenses from your fixed expenses to estimate how much you spend on the former. Then you can decide if that amount aligns with your budget.
Are variable expenses easier to cut then fixed expenses?
Variable expenses are defined as such because the amount you spend may vary each month. … Variable expenses may be
harder
to cut back on than fixed expenses because they can affect your lifestyle.
What is most likely the reason variable expenses should be?
a variable expense. … What is most likely the reason variable expenses should be planned after fixed expenses?
Fixed expenses are required and constant
, but variable expenses are more flexible.
Which is the best way to achieve long term financial goals?
Which is the best way to achieve long-term financial goals?
Save more money from net income
.
What are the main purposes of a budget select three options?
what are the main purposes of a budget?
to record the past income and spending
. to take a it a student loan from the bank. to plan future income and spending. to apply for a mortgage. to balance available resources and expenses.
Why is net income lower than gross income fixed spending?
The net income is lower than the gross income
because of withholdings
. Further Explanation: Gross Profit: It defined as the profit that a company earns after reducing the costs that are related to manufacturing and selling the products, or providing the services.
What is the simplest change that can be made to the budget to produce more?
What is the simplest change that can be made to the budget to produce more savings next month?
Decrease food expenses
.
Is rent a variable expenses?
Fixed cost includes expenses that remain constant for a period of time irrespective of the level of outputs, like rent, salaries, and loan payments, while variable costs are expenses that change directly and proportionally to the changes in business activity level or volume, like direct labor, taxes, and operational …
What are examples of fixed expenses?
- Rent or mortgage payments.
- Car payments.
- Other loan payments.
- Insurance premiums.
- Property taxes.
- Phone and utility bills.
- Childcare costs.
- Tuition fees.
What are examples of variable expenses?
Common examples of variable costs include
costs of goods sold (COGS), raw materials and inputs to production, packaging, wages, and commissions
, and certain utilities (for example, electricity or gas that increases with production capacity).
Is rent a fixed or variable expense?
The most common examples of
fixed costs
include lease and rent payments, utilities, insurance, certain salaries, and interest payments.
Which type of expense might change every time you pay it?
Variable Expenses
Just as the name says, these are your expenses that will vary month-to-month and are probably the largest spending category. Variable expenses include such things as groceries, gas for your vehicle, utilities, entertainment expenses, and clothing.
Is food a fixed or variable expense?
A
variable expense
is one that fluctuates each month. Some examples of variable expenses you may have can include: … Food expenses.
