Question

What should this business budget monthly for each of the following expenses? What are the total expenses per annum (per year)? (Value: 3 pts)

Business expenses

Insurance $1268.00 semi-monthly

Total salary for two employees $148500.00 annually

Rent $3920.00 monthly

Vehicle maintenance $865.00 quarterly

Answer 1

Insurance: $1268.00 x 2 = $2536.00 per month

Total salary: $148500.00 / 12 = $12375.00 per month

Rent: $3920.00 per month

Vehicle maintenance: $865.00 / 3 = $288.33 per month

Total expenses per annum:

Insurance: $2536.00 x 12 = $30432.00

Total salary: $148500.00

Rent: $3920.00 x 12 = $47040.00

Vehicle maintenance: $288.33 x 12 = $3460.00

Total annual expenses: $149432.00