Chapter 3 Practice Test

The McConnell's records for January, February, March, and April show that their expenditures totaled $2,004, $1,897, $2,345, and $2,426, respectively. What is their average monthly expenditure for the four months?

• $26,016

• $8,672

• $2,218

• $2,168

The Browns used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses averaged $617, their monthly fixed expenses averaged $1,108, and their monthly share of annual expenses averaged $318, what amount should they expect to spend monthly?

• $170.25

• $2,043

• $3,816

• $24,516

The LoBellos prepared an expense summary. They had planned to spend $380.00 on food for the previous month, but actually spent $391.25. How much more or less did they spend on food than they had budgeted for?

• $8.75 under

• $8.75 over

• $11.25 under

• $11.25 over

The Gillen's records for September, October, and November show that their expenditures totaled $2,567.05, $2,678.16, and $2,781.57, respectively. What is their average monthly expenditure for the three months?

• $668.90

• $2.006.70

• $2,675.59

• $8,026.75

The Drexels used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $716, their monthly fixed expenses are $1,262, and their annual expenses are $3,564, what amount should they expect to spend monthly?

• $461.83

• $1,978.00

• $2,275.00

• $5,542.00

The Turcks prepared an expense summary. They had planned to spend $164.50 on utilities for the previous month, but actually spent $187.25. How much more or less did they spend on utilities than they had budgeted for?

• $22.75 under

• $22.75 over

• $45.50 under

• $45.50 over

The Hutton's records for the past six months show that their expenditures totaled $2,786, $3,001, $2,875, $2,663, $2,471, and $2,803. What is their average monthly expenditure for the six months?

• $1,383.25

• $2,766.50

• $4,149.75

• $5,533.00

The Chins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $848, their monthly fixed expenses are $1,305, and their annual expenses are $3,816, what amount should they expect to spend monthly?

• $318.00

• $497.42

• $2,471.00

• $5,969.00

The Scotts prepared an expense summary. They had planned to spend $217.25 on transportation for the previous month, but actually spent $212.50. How much more or less did they spend on transportation than they had budgeted for?

• $4.75 under

• $4.75 over

• $5.25 under

• $5.25 over

The Silversteins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $912, their monthly fixed expenses are $1,457, and their annual expenses are $3,078, what amount should they expect to spend monthly?

• $256.50

• $453.92

• $1,457.00

• $2,625.50