From the data provided, what was the factors for the actual performance as compared to budgets in:

• 2019-2020

• 2020-2021

 

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Case Study A - Analysing financial data You have been provided financial data by your Accounting Team 2 financial periods. Use the information to answer the related questions below: Income Product A Product B Product C Total Income Expenditure Marketing Wages Rental Total Expenses Profit/(Loss) 2019-2020 Actual Budget $500,000 $520,000 Variance Budget $20,000 $200,000 $180,000 -$20,000 $100,000 $150,000 $50,000 $800,000 $850,000 $50,000 $100,000 $120,000 $350,000 $350,000 $120,000 $120,000 $570,000 $590,000 $230,000 $260,000 -$20,000 $0 $0 2020-2021 Actual $550,000 $250,000 $200,000 $50,000 $150,000 $100,000 $900,000 $400,000 $100,000 $80,000 $350,000 $250,000 $120,000 $80,000 -$20,000 $570,000 $410,000 $30,000 $330,000 -$10,000 Variance -$300,000 -$150,000 -$50,000 -$500,000 $20,000 $100,000 $40,000 $160,000 -$340,000 Case Study A - Analysing financial data You have been provided financial data by your Accounting Team 2 financial periods. Use the information to answer the related questions below: Income Product A Product B Product C Total Income Expenditure Marketing Wages Rental Total Expenses Profit/(Loss) 2019-2020 Actual Budget $500,000 $520,000 Variance Budget $20,000 $200,000 $180,000 -$20,000 $100,000 $150,000 $50,000 $800,000 $850,000 $50,000 $100,000 $120,000 $350,000 $350,000 $120,000 $120,000 $570,000 $590,000 $230,000 $260,000 -$20,000 $0 $0 2020-2021 Actual $550,000 $250,000 $200,000 $50,000 $150,000 $100,000 $900,000 $400,000 $100,000 $80,000 $350,000 $250,000 $120,000 $80,000 -$20,000 $570,000 $410,000 $30,000 $330,000 -$10,000 Variance -$300,000 -$150,000 -$50,000 -$500,000 $20,000 $100,000 $40,000 $160,000 -$340,000

Answer rating: 100% (QA)

To analyze the factors that affected the actual performance as compared to budgets for the two financial periods we need to examine the variances in each category of income and expenses For the year 2... View the full answer