Discussion 03.2: Grouping Expenses Identify expenses in your home or workplace.
ID: 389158 • Letter: D
Question
Discussion 03.2: Grouping Expenses
Identify expenses in your home or workplace.
Using the information from chapter 6, group the expenses into a cost center. For example, you may have expenses for movies, dancing or other activity that make up a cost center for entertainment in your home budget.
Create at least 3 cost centers or more, with multiple expenses. You can be creative, so do not limit your list to actual expenses or cost centers.
Identify expenses in your home or workplace.
Using the information from chapter 6, group the expenses into a cost center. For example, you may have expenses for movies, dancing or other activity that make up a cost center for entertainment in your home budget.
Create at least 3 cost centers or more, with multiple expenses. You can be creative, so do not limit your list to actual expenses or cost centers.
Explanation / Answer
The expenses for my home are usually the following – groceries and food items, toiletries, movies, eating out, tuition fees for my children, reading and drawing classes for my children, fuel expenses, DTH television expenses, internet expenses and electricity expenses.
The above expenses have been grouped under appropriate cost centers as shown below:
Cost center Expenses under a cost center 1 Food and groceries Monthly costs of milk, vegetables, fruits, pulses, meats, eggs, wheat, flour etc 2 Entertainment Movies, eating out, DTH subscription etc 3 Utility Monthly gas expenses, electricity expenses, phone bills, internet etc 4 Education Tuition expenses of children, reading and drawing classes for children