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sashaice [31]
3 years ago
8

Compute the variances in dollar amount and in percentage. (Round to the nearest whole percent.) Indicate whether the variance is

favorable (F) or unfavorable (U). Budgeted Income Amount $500.00 Actual Amount $400.00
Dollar Variance $
Percent Variance %
F or U
Business
1 answer:
Basile [38]3 years ago
8 0

Answer:

Dollar Variance is -$100

Percent Variance is -20%

Since the actual amount received is less than the budgeted amount, the variance is unfavorable (U).

We calculate Dollar Variance as Actual Income - Budgeted Income.

Dollar Variance = 400 - 500 = -100

Next calculate percent variance as \frac{Dollar Variance}{Budgeted Income}*100

Percent Variance = \frac{-100}{500} * 100 = -0.20*100

Percentage Variance = -20%.

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