Following are budget and actual figures for selected income and expense accounts for June and cumulative variances
Question:
Answer the following, assuming that the foregoing list of accounts is all that needs to be considered.
a. Calculate Junes variances and the cumulative variances through June.
b. If the budgeter planned at the beginning of the year to save an equal amount each month and has not revised that plan, how much has he or she actually saved through June?
Transcribed Image Text:
une Cumulative variance through May Budgeted Actual Salaries $(1,600) $3,000 $3,400 Expenses: Rent Transportation Food All others Payroll taxes (100) 85 125 (160) 400 300 200 550 850 900 320 215 575 780 1,000
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Related Book For
Personal Finance An Integrated Planning Approach
ISBN: 978-0136063032
8th edition
Authors: Ralph R Frasca
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