Question: What Are Two Examples Of Expenses In The Food Category?

What are examples of monthly expenses?

NeedsMortgage/rent.Homeowners or renters insurance.Property tax (if not already included in the mortgage payment).Auto insurance.Health insurance.Out-of-pocket medical costs.Life insurance.Electricity and natural gas.More items….

What are the examples of expenses?

Examples of ExpensesCost of goods sold.Sales commissions expense.Delivery expense.Rent expense.Salaries expense.Advertising expense.

What is an example of a contractual expense?

Examples of Contractual costs are: 1. Consultants – Consultants are contractors. If the applicant identifies consultant services as a contractual cost, the proposed cost must not exceed an Executive Level IV salary range (currently at $155,000 a year, $596 a day, or $74.50 an hour).

What are the 4 types of expenses?

Terms in this set (4)Variable expenses. Expenses that vary from month to month (electriticy, gas, groceries, clothing).Fixed expenses. Expenses that remain the same from month to month(rent, cable bill, car payment)Intermittent expenses. … Discretionary (non-essential) expenses.

What are the 4 types of cost?

Following this summary of the different types of costs are some examples of how costs are used in different business applications.Fixed and Variable Costs.Direct and Indirect Costs. … Product and Period Costs. … Other Types of Costs. … Controllable and Uncontrollable Costs— … Out-of-pocket and Sunk Costs—More items…•

What are the 3 categories of expenses?

There are three major types of expenses we all pay: fixed, variable, and periodic.

How do you classify expenses?

Types of ExpensesOperating. Cost of Goods Sold (COGS) It includes material cost, direct. Marketing, advertising, and promotion. Salaries, benefits, and wages. Selling, general, and administrative (SG&A) It includes expenses such as rent, advertising, marketing. … Non-operating. Interest. Taxes. Impairment charges.

How do you list expenses?

Steps to Track Your ExpensesWrite down your monthly income.Write out your monthly expenses. Start with food, shelter (your mortgage or rent plus utilities), clothing, and transportation. … Make sure your income minus your expenses equals zero.

What goes under other income and expenses?

Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. …

What are 2 types of expenses?

Two Types of Business ExpensesOperating expenses: Expenses related to the company’s main activities, such as the cost of goods sold, administrative fees, and rent.Non-operating expenses: Expenses not directly related to the business’ core operations.

What is included in other expenses?

Other expenses are expenses that do not relate to a company’s main business. As well as operating costs, the company needs to consider other expenses including interest expense and losses from disposing of fixed assets. Examples of other expenses include interest expense and losses from disposing of fixed assets.

What are direct expenses?

Direct Expenses: Direct expenses are those expenses that are paid only for the business part of your home. For example, if you pay for painting or repairs only in the area used for business, this would be a direct expense.