You are responsible for the following Operational budget items. ou are responsib

Question

You are responsible for the following Operational budget items.

ou are responsible for the following Operational budget items.

a.         What is the variance for each of the items?

b.         What is the percentage of variance for each item listed below?  

c.         Is the variance favorable or unfavorable?

a.         What is the variance for each of the items?

b.         What is the percentage of variance for each item listed below?  

c.         Is the variance favorable or unfavorable?

Fill in the Grid below.

variance

(a)

% OF VARIANCE (b.)

$11000.00

$980.00

item budgeted amt actual amt

variance

(a)

% OF VARIANCE (b.)

FAVORABLE / UNFAVORABLE (c.) supplies $2000.00 $180.00 1 2 3 temp workers $8000.00

$11000.00

4 5 6 training $1800.00 $1500.00 7 8 9 postage $1200.00 $1175.00 10 11 12 dept membership dues

$980.00

$1080.00 13 14 15

Explanation / Answer

a) Variance for each of item is as: By using MS-Excel synats as =VAR.S(range)

b)percentage of variance for each item is as

c)

Item Variance Supplies 180-2000 = -1820 Team Workers 11000 - 8000 = 3000 Training 1500 - 1800 = -300 Postage 1175 - 1200 = -25 Dept membership dues 1080 - 980 = 100

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