1. here is a table showing the breakdown of how much of the total budget should be spent by the end of each…

1. here is a table showing the breakdown of how much of the total budget should be spent by the end of each month, along with the actual spending.\nmonth\tbudget per month\tcumulative budgeted spending\tactual spending to date\njanuary\t$2,000\t$2,000\t$2,000\nfebruary\t$1,000\t$3,000\t$3,500\nmarch\t$500\t$3,500\t$5,000\napril\t$500\t$4,000\t?\nmay\t$1,000\t$5,000\t?\njune\t$500\t$5,500\t?\na) how much of the total budget does the company have left to spend after the first three months? (2 points)\nb) how does the actual amount left to spend differ from the budgeted amount for the remaining three months of the project? (2 points)

1. here is a table showing the breakdown of how much of the total budget should be spent by the end of each month, along with the actual spending.\nmonth\tbudget per month\tcumulative budgeted spending\tactual spending to date\njanuary\t$2,000\t$2,000\t$2,000\nfebruary\t$1,000\t$3,000\t$3,500\nmarch\t$500\t$3,500\t$5,000\napril\t$500\t$4,000\t?\nmay\t$1,000\t$5,000\t?\njune\t$500\t$5,500\t?\na) how much of the total budget does the company have left to spend after the first three months? (2 points)\nb) how does the actual amount left to spend differ from the budgeted amount for the remaining three months of the project? (2 points)

Answer

Explanation:

Step1: Calculate total budget for first three - months

The cumulative budgeted spending for the first three months is $3,500$.

Step2: Calculate total actual spending for first three - months

The actual spending for January is $2,000$, for February is $3,500 - 2,000=1,500$ (since cumulative to February is $3,500$ and January is $2,000$), and for March is $5,000 - 3,500 = 1,500$ (since cumulative to March is $5,000$ and cumulative to February is $3,500$). The total actual spending for the first three months is $2,000+1,500 + 1,500=5,000$.

Step3: Calculate budget left after first three months

The budget left = Total budget for first three months - Actual spending for first three months. So, $3,500-5,000=- 1,500$. This means the company is $1,500$ over - budget after the first three months.

Step4: Calculate total budget for remaining three months

The cumulative budgeted spending for June is $5,500$ and for March is $3,500$. So the total budget for April, May and June is $5,500 - 3,500=2,000$.

Step5: Calculate actual amount left to spend and difference

The actual amount left to spend = Total budget for remaining three months-(Actual spending to date - Cumulative budgeted spending for first three months). The actual spending to date is $5,000$ and cumulative budgeted spending for first three months is $3,500$. So the actual amount left to spend is $2,000-(5,000 - 3,500)=500$. The budgeted amount left to spend is $2,000$. The difference is $2,000 - 500 = 1,500$. The actual amount left to spend is $1,500$ less than the budgeted amount for the remaining three months.

Answer:

a) The company is $1,500$ over - budget after the first three months, so the amount left is $-1,500$. b) The actual amount left to spend is $1,500$ less than the budgeted amount for the remaining three months.