The Bluto Fraternity held a Homecoming party.The fraternity prepared the following budget for 25 expected attendees: $$\begin{array} { l r }
\text { Roomrental } & \$ 150 \
\text { Food } & 250 \
\text { Entertainment } & 150 \
\text { Decorations } & 75 \
\text { Totals }& \$ 625
\end{array}$$ After all bills for the party were paid, the total came to $660.Details are: $140 for room rental; $320 for food; $125 for entertainment; and $75 for decorations.Twenty-five persons attended the party. What is the total budget variance?

Question

The Bluto Fraternity held a Homecoming party.The fraternity prepared the following budget for 25 expected attendees: $$\begin{array} { l r } 
\text { Roomrental } & \$ 150 \
\text { Food } & 250 \
\text { Entertainment } & 150 \
\text { Decorations } & 75 \
\text { Totals }& \$ 625
\end{array}$$ After all bills for the party were paid, the total came to $660.Details are: $140 for room rental; $320 for food; $125 for entertainment; and $75 for decorations.Twenty-five persons attended the party. What is the total budget variance?

Quizplus · Accepted Answer

The total budget variance is calculated by subtracting the actual total expenses ($660) from the planned budget ($625), which equals $35 unfavorable.

The Bluto Fraternity Held a Homecoming Party After All Bills for the Party Were Paid, the Total