Project 1

The following data were the budgeted amount of January and February month and actual amount
of January month. The difference between total income and expense is personal saving

Description Month
January Actual January February
Salary income 12,000 12,000 12,000
Over Time 800 800 800
Total income 12,800 12,800 12,800
Clothing expense 1,500.00 1,000.00 1,200
Entertainment expense 860 860 800
Subscription expense 300 300 250
Miscellaneous expense 900 950 960
Gift paid 1,600.00 1,700.00 1,600.
Daily living expense 1,000.00 1,200.00 1200
Transportation expense 1,200.00 1,100.00 1000
Home expense 2,400.00 2,500.00 2500
Medical expense 700 850 950
Total expense 10,460.00 10,460.00 10.460.00
Personal saving 2,340.00 2,340.00 2,340

Required

1. Prepare budget performance report for the month of January

2. Prepare budget allocation for the month of February
3. Determine the percentage of saving

Project 2

Description Actual Budget for Estimated Budget for

the March 31,2015 the March 31,2015

Income 90% 2100

Clothing 100% 700

Food 85% 340

 Cart gas 50% 200

Recreation 35% 120

i. calculate Actual Budget and Compare with estimated Budget

ii. Calculate actual and estimated saving in birr
iii. Calculate Percentage of estimated against Actual saving

Project 3
The following information is used to prepare your personal Budget for the month of January and
February 2014.

I) Your monthly salary income were Birr 3000 at the end of December 31,2013
II) Your other income are 30% of your salary
III) Among the total income 40% will be incurred for variable expenses
IV) The remaining amount will be spending for Fixed expenses and personal
Saving
V) Personal saving is 7% of Fixed expense
VI) Your salary is increased by 10% of your salary each year, assume that the
beginning Month is Jan.

Required

A) Develop your personal budget for the month of January and Feburary2014

Project 4
The following information is used to prepare your personal Budget for March and April months
of 2014.

I) Your monthly salary income was Birr 4000 at the end of Feb, 2014.
II) Your other income is15% of your salary.
III) Among the total income 35% will be spending for fixed expenses.
IV) The remaining amount will be spending for Variable expenses and personal
saving.
V) Personal saving is 5% of Variable expense.
VI) Your salary is increased by 10% of your salary each year, assume that the
beginning Month is Jan. And ending month is Dec.

Required

A) Develop your personal budget for the month of March and April.2014
Project 5
The following information is used to prepare your personal Budget for January and February
months of 2014.

I) Your monthly salary income was Birr 4000 at the end of December 31, 2013.
II) Your other income is 15% of your salary.
III) Personal saving is 5% of home expense.
IV) Your salary is increased by 15% of your salary each year, assume that the
beginning Month is Jan. And ending month is Dec.
V) Expenses

Clothing expenses 15% of income

Entertainment expenses 5% of income
Subscription Expenses 5% of income
Miscellaneous expenses 10% of income
Gift paid 10% of income
Daily living expenses 20% of income
Transportation expenses 7% of income
Medical expenses 12% of income

VII) The remaining amount will be spending for Home expenses and personal
saving

Required

A. Develop your personal budget for the month of January and Feburary2014

Project 6
Ayele is one of the employees of XYZ Corporation and his Net salary is Birr 3800 per month
for the month of July 2014 and He allocates his salary for the different expenditures as follows
for preparation of his monthly budget.

Expenses Percentage

Clothing expenses 11% of income

Entertainment expenses 12% of income

Miscellaneous expenses 5% of income

 Gift paid 7% of income

Daily living expenses 15% of income

Transportation expenses 10% of income

Home expenses 30% of income

Medical expenses 5% of income

Personal Saving 5% of income

He plan to increase his personal saving amount by reducing entertainment expenses, Daily living
expenses and Clothing expenses by 4%,6% and 3%respectively for the month of August. No
change on the other information except the above indicated information.

Required
1. Prepare personal budget for AtoEphrem for the month of July and August 2014.
2. Determine the increasing percentage of saving for the month of august?

Project 7
W/t Emebet is an employee of XYZ Company she earns a monthly Net salary of Birr 12,000.
30% of the total income is used to Covers her fixed cost and the remaining income is used to
caver her Variable expenses and personal saving. Personal Saving is 10% of her Variable
expenses. The expected actual Variable expense is 90% of the budgeted Variable expenses. If
Variable expenses budget is over used the difference is deducted from personal saving and
variable expenses budget is under used the difference is added to personal saving. Her Net
income will be expected to increase by 15% from February Month.

 Task 2.1 Prepare Budget performance report for the month of December 2015
 Task .2 Prepare personal budget of March 2016.

Project 8
 Assume that Mr X monthly earning is 13,400 birr and one monthly expense in the month
of September is as follows:
- House rent 1,500birr
- Food 3,000 birr
- Clothing 2,000 birr
 - Recreation 2,000 birr
- Utility expense 1,300 birr
 IF Mr X in the month of October plan with comparing September budget to decrease
expenses in the following percent while revenue is the same as:
 House rent 20% -Food 50%
 Clothing 80% - Recreation 60%
 Utility expense 40%
Based on the information
A. prepare budget for the month of October
B. Calculate percentage of saving for the month of October
C. Calculate percentage of expenses for the month of October

Project 9
Elisabeth is the secretary of DM co and she earns net earnings of birr 3000, 1000 and 1500 for
salary, Transportation and Housing respectively. 60% of hear net salary and transportation
allowance is for hear variable expenditure. On the other hand the sum of 50% of her variable
expenditure and 70% of housing allowance is her fixed expense.

Task 6.1 prepare her semi-annual personal budget

Task 6.2 Determine the percentage of fixed expense and saving amount from her total earning

Project 10
Given the following personal data of Ato Abebe for six months, perform the following tasks.

Description January February March April May June

Food Expense 2300.00 2800.00 2750.00 2500.00 2600.00 2600.00
House Rent Expense 1,600.00 1600.00 1600.00 1600.00 1600.00 1600.00
Transportation Exp. 1000.00 800.00 1200.00 1000.00 1200.00 1000.00
Over time earning 2500.00 2000.00 3000.00 3500.00 2500.00 3750.00
Utility Expense 1500.00 2500.00 2000.00 3000.00 1000.00 1200.00
Basic Salary 15000.00 15000.00 15000.00 15000.00 15000.00 15000.00
Cloth Expense 1000.00 1000.00 1500.00 1500.00 2500.00 2000.00
Part Time 2000.00 2000.00 2500.00 2500.00 3000.00 3500.00
Health Expense 600.00 500.00 450.00 500.00 650.00 600.00

Task 7.1: Prepare personal budget for Ato Abebe.

Task 7.2: Calculate saving percentage.

Project 11
 Ato Mesfin .Z is an employee working for Ethiopian Revenue and Customs Authority with
monthly net income of Br.12, 000.00 per month in December 2015. His salary is expected to
increase by annual increment 20% in next year starting from month January, 2016. The 40%
of his total income is used to cover variable expenditure and the remaining is fixed cost and
saving. His saving is 20% of fixed expenditure. The actual variable expenditure during the
month is 90% and the fixed cost & actual income remain the same. Both surplus and deficit
on budget are adjusted to savings.

Required

Task 1.1 Prepare personal budget for the of December, 2015 and January, 2016

Task 1. 2 Prepare budget Performances of December, 2015.

Project 12
EDEN is an employee of DF Company earns a monthly Net income of Birr 9,000 per month in
December 2015. 30% of the total income is used to Covers his fixed cost and the remaining
income is used to caver his Variable expenses and saving. Saving is 10% of his Variable
expenses. The expected actual Variable expense is 90% of the budgeted Variable expenses. If
Variable expenses budget is Deficit deducted from personal saving and variable expenses budget
is Surplus added to personal saving. Eden Net income will be expected to increase by 25% from
February Month.
Required
Task 2.1 Prepare Budget performance report for the month of December 2015
Task 2.2 Prepare personal budget of March 2016.