The department's first quarter budget analysis shows that while the expected cost of operations was $227,200,...
The department's first quarter budget analysis shows that while the expected cost of operations was $227,200, the actual cost of operations was $239,875. What is the budget variance? (Remember to move your decimal two places to the right and round up or down to one decimal place, as appropriate)
Homework Answers
The budget variance is the difference between actual cost and expected cost, multiplied by 100 and then divided by the expected cost.
[($239,875 - $227,200) / $227,200] × 100 = 5.6%
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