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What are some examples of Variable Expenses?
utilities
Is electricity a variable or semi-variable cost?
If electricity expense is dependant on production level then it is variable expenses other wise some of expenses may be of variable nature while some part is fixed or semi variable nature as well.
Definition of budget padding?
Padding the budget means making the budget proposal larger than the actual estimates for the project. This is done either by increasing a project's expenses or decreasing its expected revenue. The goal of budget padding is to get an approval committee to grant an artificially high level of funding to the budget maker's proposed project. There is some contention over the exact definition of padding: some contend that inflating expenses to take expected inflation into account is responsible foresight rather than padding, while others see any increase beyond current estimates as padding.
List some accounting analytical duties?
Comparing expenses to budget. Comparing expenses to prior periods. Explaining significant increases or decreases to income and expense accounts. Comparing product profit margins amongst the company's various product line.
What are some tips for travel expense management?
Travel expense management is used by companies that have travel expenses as part of the company budget. Some tips are to have a policy in place for company travel and purchase a software that will allow the company to track and manage travel expenses. Make the employees familiar with the software and use it to track expenses. This will allow the company to have all the data in one place.
What are some examples of Variable Expenses?
utilities
Is electricity a variable or semi-variable cost?
If electricity expense is dependant on production level then it is variable expenses other wise some of expenses may be of variable nature while some part is fixed or semi variable nature as well.
What are the external factors that may affect the budget?
Expenses, taxes, bills and payments and some other debts may affect the budget of either an individual or a family.
Can a expense be defined as variable cost and a fixed costs?
Some expenses are the same amount each month and some vary. Mortgage and taxes stay the same each month. Expenses that vary are electricity, gas, and food.
What is an example of a variable expence?
In business, there are two common types of expenses: variable and fixed. Variable expenses are those which change as production changes, whereas fixed charges are usually the same regardless of the amount produced in the short term. Some examples of variable expenses for a packaged goods company: -The cost of the product (raw materials, packaging) -Labor and conversion costs at the factory (the more you produce the more labor will be required) -Overheads at the factory (the more you produce, the more water and electricity you will use)
Definition of budget padding?
Padding the budget means making the budget proposal larger than the actual estimates for the project. This is done either by increasing a project's expenses or decreasing its expected revenue. The goal of budget padding is to get an approval committee to grant an artificially high level of funding to the budget maker's proposed project. There is some contention over the exact definition of padding: some contend that inflating expenses to take expected inflation into account is responsible foresight rather than padding, while others see any increase beyond current estimates as padding.
What are some ways one can reduce a grocery budget?
The most practical way to shrink a grocery budget is to cut frivolous items out of it. If that is not possible, it is feasible to print and cut coupons from circulars and websites that offer them. Some of the most dollar stretching items are rice and beans.
List some accounting analytical duties?
Comparing expenses to budget. Comparing expenses to prior periods. Explaining significant increases or decreases to income and expense accounts. Comparing product profit margins amongst the company's various product line.
What does the government buy with your tax money?
Everything is divided up in the specific budget, but some of the notable expenses of just about any government are military, education, healthcare, and retirement.
What are some tips for travel expense management?
Travel expense management is used by companies that have travel expenses as part of the company budget. Some tips are to have a policy in place for company travel and purchase a software that will allow the company to track and manage travel expenses. Make the employees familiar with the software and use it to track expenses. This will allow the company to have all the data in one place.
Why is variable cost?
Variable cost is an expense that changes over time in contrast to fixed cost. A company which expands in a given time will see that they have to allocate budget for hiring new employees to better accommodate their clients. However, if the company experiences some difficulties in the future, they will sure downsize their workforce which leads to decrease in budget for human resource.
What are some foumulas you can use to design your home budget in Excel?
There are many formulas you can use in a budget. The most useful formula to use in a budget is the SUM function. If you have your expenses listed in column C, rows 5 through 34, you would use the formula =SUM(C5:C34) to find the total of that expense column.An interesting use of a budget is to determine if your expenses are over or under budget. In other words, do you need to cut back on your spending (most likely situation) or are you free to spend a little more in a particular area (yah, right ).Here is a forumla you can use to determine if you are over or under budget:You have two columns. Column C lists your budgeted items, while column D holds your actual expenses for those items.Assume you want to evaluate the budget item in row 17.In column E, you can enter the following complex formula to indicate if that particular item is over budget, under budget, or on budget.=IF(C17-D17
