An operating statement indicates that $64,751 was budgeted for supplies and that $66,250 was actually spent. Calculate the percent variance.
A) 12.3%
B) 1.23%
C) .23%
D) 2.3%

Name: An operating statement indicates that $64,751 was budgeted for supplies and that $66,250 was actually spent. Calculate the percent variance. A) 12.3% B) 1.23% C) .23% D) 2.3%
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Question

Quizplus · Accepted Answer

The percent variance is calculated as ((Actual - Budgeted) / Budgeted) * 100 = (($66,250 - $64,751) / $64,751) * 100 = 2.3%.

An Operating Statement Indicates That $64,751 Was Budgeted for Supplies