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

Solve with a caculator

Answer 1

1. Insurance: $1268.00 * 2 (semi-monthly) = $2536.00 per month
Total annual insurance expense: $2536.00 * 12 = $30432.00

2. Total salary for two employees: $148500.00 annually
Total annual salary expense: $148500.00

3. Rent: $3920.00 monthly
Total annual rent expense: $3920.00 * 12 = $47040.00

4. Vehicle maintenance: $865.00 * 4 (quarterly) = $3460.00 per month
Total annual vehicle maintenance expense: $3460.00 * 12 = $41520.00

Total annual expenses:
$30432.00 (insurance) + $148500.00 (salary) + $47040.00 (rent) + $41520.00 (vehicle maintenance) = $267492.00

Therefore, the business should budget the following amounts for each expense monthly:
- Insurance: $2536.00
- Total salary for two employees: $148500.00
- Rent: $3920.00
- Vehicle maintenance: $3460.00

And the total annual expenses for the business would be $267492.00.