Answer :
Let's work through the problem step-by-step to determine the actual net income for the month and examine any potential improvements that could have been made to the budget.
### Actual Amounts
Firstly, let's identify all the actual amounts for income and expenses given in the budget:
Income:
- Income: [tex]$900 - Wages: $[/tex]25
Expenses:
- Rent: [tex]$400 - Utilities: $[/tex]80
- Food: [tex]$200 - Cell Phone: $[/tex]75
- Other: [tex]$200 ### Total Income and Total Expenses Total Income: The total income is the sum of the actual income and wages. \[ \text{Total Income} = 900 + 25 = 925 \] Total Expenses: The total expenses is the sum of all actual expenses. \[ \text{Total Expenses} = 400 + 80 + 200 + 75 + 200 = 955 \] ### Net Income The net income is calculated by subtracting the total expenses from the total income. \[ \text{Net Income} = \text{Total Income} - \text{Total Expenses} = 925 - 955 = -30 \] ### Analysis of Budget Improvement Based on the net income calculation, the actual net income for the month is \(-\$[/tex]30\). This indicates a deficit, meaning expenses exceeded income by [tex]$30. Since the net income is negative, we need to consider potential changes to improve the budget. None of the provided options suggesting a positive net income of \$[/tex]30 apply. Therefore, the correct response is one that recognizes the actual net income as [tex]\(-\$30\)[/tex]:
a. The actual net income for the month is [tex]$-\$[/tex] 30$. No changes to the budget are necessary.
Given the deficit in the net income, it’s clear that expenses have surpassed income. Ideally, the goal would be to either increase income or reduce expenses to avoid a deficit. However, this particular question does not delve into specific budget improvements beyond recognizing the deficit.
### Actual Amounts
Firstly, let's identify all the actual amounts for income and expenses given in the budget:
Income:
- Income: [tex]$900 - Wages: $[/tex]25
Expenses:
- Rent: [tex]$400 - Utilities: $[/tex]80
- Food: [tex]$200 - Cell Phone: $[/tex]75
- Other: [tex]$200 ### Total Income and Total Expenses Total Income: The total income is the sum of the actual income and wages. \[ \text{Total Income} = 900 + 25 = 925 \] Total Expenses: The total expenses is the sum of all actual expenses. \[ \text{Total Expenses} = 400 + 80 + 200 + 75 + 200 = 955 \] ### Net Income The net income is calculated by subtracting the total expenses from the total income. \[ \text{Net Income} = \text{Total Income} - \text{Total Expenses} = 925 - 955 = -30 \] ### Analysis of Budget Improvement Based on the net income calculation, the actual net income for the month is \(-\$[/tex]30\). This indicates a deficit, meaning expenses exceeded income by [tex]$30. Since the net income is negative, we need to consider potential changes to improve the budget. None of the provided options suggesting a positive net income of \$[/tex]30 apply. Therefore, the correct response is one that recognizes the actual net income as [tex]\(-\$30\)[/tex]:
a. The actual net income for the month is [tex]$-\$[/tex] 30$. No changes to the budget are necessary.
Given the deficit in the net income, it’s clear that expenses have surpassed income. Ideally, the goal would be to either increase income or reduce expenses to avoid a deficit. However, this particular question does not delve into specific budget improvements beyond recognizing the deficit.
