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Cupid's Monthly Budget Analysis 2024

The document contains two monthly budgets. The first is for Cupid and shows a surplus of ₱79 but would become a deficit of ₱121 if a gift is purchased. The second is the author's budget for January 2024 which had a surplus of ₱1,527 due to spending less than planned on various variable expenses.

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jessamae cabal
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9 views2 pages

Cupid's Monthly Budget Analysis 2024

The document contains two monthly budgets. The first is for Cupid and shows a surplus of ₱79 but would become a deficit of ₱121 if a gift is purchased. The second is the author's budget for January 2024 which had a surplus of ₱1,527 due to spending less than planned on various variable expenses.

Uploaded by

jessamae cabal
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

Cabal, Jessa Mae C.

BSBA-FM-3B

ACTIVITY 2 - BUDGET PREPARATION & ANALYSIS

Cupid's Monthly Budget


Surplus/
Category Budgeted Actual Variance
Deficit
Food ₱ 350.00 ₱ 298.00 ₱ 52.00 Surplus
Transportation ₱ 320.00 ₱ 337.00 ₱ (17.00) Deficit
Housing ₱ 950.00 ₱ 982.00 ₱ (32.00) Deficit
Clothing ₱ 100.00 ₱ 134.00 ₱ (34.00) Deficit
Personal
₱ 275.00 ₱ 165.00 ₱ 110.00 Surplus
Recreation
Total ₱ 1,995.00 ₱ 1,916.00 ₱ 79.00 Surplus

The total variance is ₱ 79.00, which means Cupid has a budget surplus of ₱ 79.00 for
the month of February 2024. However, if Cupid buys a Valentine’s gift for his mom for ₱ 200.00,
then his total variance will be -₱ 121.00, which means he will have a budget deficit of ₱ 121.00
for the month of February 2024.
Monthly Budget
Budgeted Amounts Actual Amounts Variance
(Peso) (Percent)
PROJECTED INFLOWS:
Income
Parent's contribution ₱ 4,000
Other income ₱ 2,000
Total: ₱ 6,000 100% ₱ 6,000 ₱ -

PROJECTED OUTFLOWS:
Savings
Bank deposit ₱ 1,800 30% ₱ 1,800 ₱ -
Total savings ₱ 1,800 30% ₱ 1,800 ₱ -

Fixed Expenses
Subscriptions:
Spotify ₱ 149 2% ₱ 149 ₱ -
Netflix ₱ 549 9% ₱ 549 ₱ -
Total fixed expenses ₱ 698 12% ₱ 698 ₱ -

Variable Expenses
Food ₱ 600 10% ₱ 480 ₱ 120
Transportation ₱ 832 14% ₱ 632 ₱ 200
Self-care allowance ₱ 1,070 18% ₱ 139 ₱ 931
Online shopping ₱ 500 8% ₱ 254 ₱ 246
Other expenses ₱ 500 8% ₱ 470 ₱ 30
Total variable expenses ₱ 3,502 58% ₱ 1,975 ₱ 1,527
Total outflow ₱ 6,000 100% ₱ 4,473 ₱ 1,527

The total variance of my own budget was ₱ 1,527.00, which means I had a budget
surplus of ₱ 1,527.00 for the month of January 2024. It was not a deficit, so an action plan for
these expenses would be to spend less on non-essential items, such as online shopping and
other expenses, and to look for cheaper alternatives for transportation and self-care needs. By
doing so, my budget would be balanced and the savings would increase.

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