SOLUTION: You are an accountant for a construction business and are planning next year's budget. You have $200,000 to spend on salaries, equipment expenses, and other general expenses. Based

Question 1066242: You are an accountant for a construction business and are planning next year's budget. You have $200,000 to spend on salaries, equipment expenses, and other general expenses. Based on previous financial records of the business, you expect to spend five times as much on salaries as on equipment maintence, and you expect general expenses to be 10% of the amount spent on the other two combined. Write and solve a system of equations to find the amount you should budget for each category.
please kindly provide me the equations to use to solve this problem... thanks

Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
let g = amount for general expenses.
let e = amount for equipment expenses.
let s = amount for salaries.

total is 200,000.

g + e + s = 200,000

amount to be budgeted for salaries is 5 times amount to be budgeted for equipment expenses.

s = 5 * e

general expenses is expected to be 10% of the amount spent on the other two combined.

g = .10 * (s + e).

you have 3 equations to be solved simultaneously.,

they are:

s + e + g = 200,000
s = 5 * e
g = .10 * (s + e).

from g = .10 * (s + e), replace s with 5 * e from s = 5 * e to get:

g = .10 * (5 * e + e)

simplify to get g = .10 * 6 * e

simplify further to get g = .6 * e

from s + g + e = 200,000, replace s with 5 * e and replace g with .6 * e to get:

5 * e + .6 * e + e = 200,000

combine like terms to get 6.6 * e = 200,000

solve for e to get e = 200,000 / 6.6 = 30303.0303...

since s = 5 * e, you get s = 5 * 30303.0303 = 151515.1515...

since g = .10 * (s + e), you get g = .10 * (151515.1515... + 30303.0303...).

combine like terms to get g = .10 * 181818.1818...

solve for g to get g = 18181.81818...

s + g + e = 200,000 becomes 151515.1515... + 18181.81818... + 30303.0303... = 200,000.

simplify to get 200,000 = 200,000

solution looks good.

you should budget the following:

151515.1515... for salaries.
18181.81818... for general expenses.
30303.0303... for equipment expenses.

round those off to the nearest cent and you get:

151,515.15 for salaries.
18,181.82 for general expenses.
30,303.03 for equipment expenses.

RELATED QUESTIONS
You are an accountant for a construction business and are planning next year's budget.... (answered by stanbon)

An accountant for a company is creating part of the fiscal budget for next year. She has... (answered by solver91311)

1. Wen Seng operates an ice cream shop. He is trying to decide whether to expand his... (answered by ikleyn)

You are in collections with CRA. As of April 30, 2019 you have an outstanding income tax (answered by ikleyn)

(b) Given your interest in sports and computers, you are considering establishing a... (answered by solver91311)

As the owner of a business, you must make sure that you spend no more than you have.... (answered by Theo)

You are the vice president of finance for a manufacturer of scuba diving gear. The... (answered by Theo)

1. You are planning to spend no less than $6,000 and no more than $10,000 on your... (answered by rfer)

1. You are planning to spend no less than $6,000 and no more than $10,000 on your... (answered by jessica43)