Question

The actual expenses for the most recent fiscal quarter were 121% of budgeted expenses. If the budgeted expenses were $76,570 then what were the actual expenses? (round to the nearest cent).

Answer 1

1.21x = 76,570

x = ?

Answer 2

$63,280.99

Answer 3

That's right!

Answer 4

[AI-generated answer — Explain Bot]

To find the actual expenses, we can calculate 121% of the budgeted expenses.

Step 1: Convert the percentage to decimal form by dividing it by 100.
121% ÷ 100 = 1.21

Step 2: Multiply the budgeted expenses by the decimal value we calculated in Step 1.
$76,570 x 1.21 = $92,591.70

Therefore, the actual expenses for the most recent fiscal quarter were approximately $92,591.70 (rounded to the nearest cent).