Answer to Question #80067 in Finance for Hugh Heron

Question #80067
Explain each variance calculated below:

Product

Gross profit budget ($)

Gross profit actual ($)

Variance ($)

A


2,250

2,925

675
B


3,100

3,875

775
C


6,000

4,000

-2,000
Total


11,350

10,000

-550
1
Expert's answer
2018-08-24T07:59:08-0400
Product A B C Total
GP budget ($) 2,250 3,100 6,000 11,350
GP actual ($) 2,925 3,875 4,000 10,800
Variance ($) 675 775 -2,000 -550
A and B are favourable, C and total are unfavourable.

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