What recommendations and actions would you take to bring the budget back under control for the remaining
quarters? How would you go about implementing these recommendations within your team? Draft a short report outlining your findings
	Annual	Q1 Budgeted	Actual	Variance $	Variance %
Credit Sales Revenue	$ 6,000,000	$1,200,000	$ 1,050,000	$150,000	12.50%
Cost of Sales	-$ 3,100,000	-$620,000	-$ 542,500	-$77,500	13%
Wages	-$ 800,000	-$160,000	-$ 140,000	-$20,000	13%
Telephone	-$ 50,000	-$10,000	-$ 10,000	$0	0%
Travel	-$ 35,000	-$7,000	-$ 6,563	-$438	6%
Office Supplies	-$ 7,000	-$1,400	-$ 1,750	$350	-25%
Bad Debts	-$ 150,000	-$30,000	-$ 40,000	$10,000	-33%
Other Operating Expenses	-$ 125,000	-$25,000	-$ 21,875	-$3,125	13%
Departmental Profit	$ 1,733,000	$346,600	$ 287,313	$59,288	17%

Answer rating: 100% (QA)

Budget Variance Report Q1 and Recommendations Introduction This report analyzes the variances between budgeted and actual figures for the first quarte... View the full answer