A HIM Department Budget Report for May shows a payroll budget of $25,000 and an actual payroll expense of $22,345. The percentage of budget variance for the month is

Question

Quizplus · Accepted Answer

To find the percentage of budget variance, we need to calculate the difference between the actual payroll expense and the payroll budget, then divide by the payroll budget, and multiply by 100.

Budget variance = $25,000 - $22,345 = $2,655
Percentage of budget variance = ($2,655 / $25,000) x 100% = 10.62%, which rounds up to 11%.

Therefore, the best choice is B, which represents the percentage of budget variance for the month.

A HIM Department Budget Report for May Shows a Payroll