The Hola Company held a Christmas party.The company expected attendance of 100 persons and prepared the following budget: $\begin{array}{lr}
\text { Hotel room rental } & \$ 500 \
\text { Food } & 500 \
\text { Entertainment } & 800 \
\text { Decorations } & \$ 400 \
& \
\text { Totals } & \$ 2,200 \
\hline
\end{array}$ After all bills for the party were paid, the total came to $2,315.Details are: $575 for hotel room rental; $640 for food; $750 for entertainment; and $350 for decorations.One hundred persons attended the party. What is the total budget variance?

Question

Quizplus · Accepted Answer

The total budget variance is calculated by subtracting the actual total expenses ($2,315) from the budgeted total expenses ($2,200), resulting in a $115 unfavorable variance because the actual expenses exceeded the budgeted expenses.

The Hola Company Held a Christmas Party After All Bills for the Party Were Paid, the Total