Answer:
For each month we calculate the variance by finding the difference between the Actual numbers and Budget numbers.
Then we indicate if the practice was "Overbudget" or "Underbudget".
If the actual numbers are less than the budget numbers, the budget is we say that the budget is under budget.
If the actual numbers are more than the budget numbers, the budget is we say that the budget is over budget.
Month Budget Actual Variance Under/ over
<u> (Actual -Budget) Budget
</u>
January 23,55,872 17,90,929 -5,64,943 Under Budget
February 26,54,031 28,27,606 1,73,575 Over Budget
March 22,39,980 29,24,180 6,84,200 Over Budget
