Analyze the following budget, with an income of $750, to determine how much can be spent on food for the month.

Question

Month________
Budgeted Amount
Food
$___
Personal Items
$20
Cell Phone
$75
Entertainment
$85
Car Expenses – Gas, Insurance
$260
College Savings
$250
a.
No more than $70 can be spent on food.
b.
No more than $75 can be spent on food.
c.
No more than $80 can be spent on food.
d.
No more than $60 can be spent on food.

Answer 1

To determine how much can be spent on food, we first need to calculate the total amount allocated to other expenses:

1. Personal Items: $20
2. Cell Phone: $75
3. Entertainment: $85
4. Car Expenses (Gas, Insurance): $260
5. College Savings: $250

Now, let's add up these amounts:

\[ 20 + 75 + 85 + 260 + 250 = 720 \]

Next, we'll subtract the total of these expenses from the total income to find out how much is left for food:

\[ Total Income - Total Expenses = 750 - 720 = 30 \]

Now that we know $30 is available for food, we can analyze the options provided:

a. No more than $70 can be spent on food. (Incorrect) b. No more than $75 can be spent on food. (Incorrect) c. No more than $80 can be spent on food. (Incorrect) d. No more than $60 can be spent on food. (Incorrect)

Given that only $30 can be spent on food based on the provided budget, none of the options are correct, as all options exceed the available budget for food. The correct conclusion is that $30 can be spent on food for the month.