Question: Current year actual and projected exchange rates between the ARS and the U.S. dollar (USD) are as follows: Actual at time of budget USD 0.063

Current year actual and projected exchange rates between the ARS and the U.S. dollar (USD) are as follows:

Actual at time of budget USD 0.063 per ARS 1

Projected ending at time of budget preparation USD 0.058 per ARS 1

Actual at end of budget period USD 0.056 per ARS 1

Required:

Calculate the total budget variance for the current year translating the budget at the initial exchange rate and translate actual results using the ending exchange rate.

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