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Questions

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22.2. Lakeside has closed its books for the first half of the fiscal year. Calculate the variance and variance percentage of the data presented in Table 22.6.
Table 22.6 Lakeside Year-to-Date Budget and Actual
YTD YTD
Budget Actual
FEES 5,000 3,785
FEE REVENUE 5,000 3,785
All Revenue 5,000 3,785
REGULAR PAY 132,710 122,360
BENEFITS 44,442 41,816
TOTAL PERSONNEL 177,152 164,176
GENERAL SUPPLIES 1,095 -
SUPPLIES 1,095 -
SERVICE CONTRACT 2,644 1,798
TRAINING 1,543 300
TRAVEL 2,219 1,209
POSTAGE 120 336
SERVICES 6,526 3,643
EQUIPMENT 5,000 -
CAPITAL 5,000 -
All Expenditures 189,773 167,819
22.3. The legislative body of Brookville has completely approved your proposed budget of $400,000 for the fiscal year starting July 1, with no reductions. Prepare your annual budget by object code and month using the following guidance:
(a) Salaries are $23,000 per month, and benefits total 15% of salaries each month.
(b) General supplies are purchased at the beginning of each quarter and total $400 per quarter.
(c) There are two service contracts. One is for your website’s host and development and is paid in two parts: $15,000 in December and $25,000 in June. The second contract is for data analysis by an outside vendor. Payment on this contract is due every January, for a total of $2,000.
(d) The director of your department attends a national conference every October. Their training (which includes travel) budget is $3,000 for the conference.
(e) This year, your department will be outfitted with new technology equipment, including PCs, laptops, a phone system, and a new server. The cost is expected to be $36,000, and the transition should happen in February.
22.4. Brookville has just closed the fiscal month of November. You have not incurred any expenses thus far that were outside of your original annual plan. Your department has the following year-to-date actual expenditures (YTD actual):
Regular pay: $115,000
Benefits: $17,250
General supplies: $780
Service contract: $15,000
Training: $1,500
Using the budget you prepared in assignment 2, what is the variance by object code and for the overall department? Prepare a brief variance analysis summary for the department director regarding the department’s budget-to-actual position after the end of November. Based on your plan, is there anything of concern that your director needs to know about? For example, is the variance positive or negative, and is this favorable or unfavorable?
22.5. Brookville has just closed the fiscal month of December. You have not incurred any expenses thus far that were outside of your original annual plan. Your department has the following year-to-date actual expenditures (YTD actual):
Regular pay: $138,000
Benefits: $20,700
General supplies: $780
Service contract: $15,000
Training: $1,500
Using the budget you prepared in assignment 2, what is the variance by object code and for the overall department? Prepare a brief variance analysis summary for the department director regarding the department’s budget-to-actual position after the end of December. Based on your plan, is there anything of concern your director needs to know about? For example, is the variance positive or negative, and is this favorable or unfavorable?
22.6. In January, Brookville’s legislative body approved a new program for your department. The costs of the program include $15,000 for contract services ($5,000 in each of April, May, and June) and another $5,000 for training in April. The budget adjustment approval is only for $17,000 of the $20,000 requested. The department director has authorized you to take the remaining needed funds from the budget for the capital equipment planned to be purchased next month. Make these adjustments to your original budget. What is the new appropriation amount for the department for the entire year?
x
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Please enter your name on the first page

Exercise 22.2

To show the cell checking, put a check here: x Percent Correct 0%
Please enter your name on the first page Grade in Points (All Sheets) 0.45
YTD Budget YTD Actual YTD Variance % Variance
FEES 5,000 3,785
FEE REVENUE
All Revenue
REGULAR PAY 132,710 122,360
BENEFITS 44,442 41,816
TOTAL PERSONNEL
GENERAL SUPPLIES 1,095 - 0
SUPPLIES
SERVICE CONTRACT 2,644 1,798
TRAINING 1,543 300
TRAVEL 2,219 1,209
POSTAGE 120 336
SERVICES
EQUIPMENT 5,000 - 0
CAPITAL
All Expenditures
Check
Use of Subtotal Formula Check
Use of Subtotal Formula Check
Grade
0 0 0
0
0 0
0 0 0 0
0 0 0 0
0 0
0 0
0 0 0 0
0 0
0 0 0 0
0 0
0 0
0 0
0 0
0 0 0 0
0 0
0 0 0 0 0
0 0 0 0 50

Exercise 22.3

To show the cell checking, put a check here: x Percent Correct 28%
To be fully graded, all cells must contain entries. Zero values should be entered as 0.
Fiscal Year Total July August Septem-ber October Novem-ber Decem-ber January Febru-ary March April May June Check
REGULAR PAY 276,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000
BENEFITS 15% 41,400 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450
TOTAL PERSONNEL 317,400 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450
GENERAL SUPPLIES 1,600 400 400 400 400
SUPPLIES 1,600
SERVICE CONTRACT 2,000
TRAINING
SERVICES
EQUIPMENT
CAPITAL
All Expenditures
Appropriation from legislative body 400,000
Variance
Check
Use Subtotal formula check
TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE
TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE
TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE
TRUE TRUE TRUE TRUE TRUE
TRUE
TRUE
Grade
0 0 0 0 0 0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1 1 1 1 1 1 0
1 1 1 1 1 1 1 1 1 1 1 1 1 1 0
1 1 1 1 1 1 1 1 1 1 1 1 1 0
1 1 0 0 1 0 0 1 0 0 1 0 0 0
1 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 1 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0
47
169

Exercise 22.4

To show the cell checking, put a check here: x Percent Correct 11%
To be fully graded, all cells must contain entries. Zero values should be entered as 0.
July August September October November YTD Budget YTD Actual Variance Percent Variance Grade Text Based on your plan is there anything of concern your director needs to know?
REGULAR PAY 23,000 23,000 23,000 23,000 23,000 115,000 Text answer here
BENEFITS 3,450 3,450 3,450 3,450 3,450 17,250
TOTAL PERSONNEL 26,450 26,450 26,450 26,450 26,450 132,250
GENERAL SUPPLIES 400 - 0 - 0 400 - 0 800
SUPPLIES 400 - 0 - 0 400 - 0 800
SERVICE CONTRACT - 0 - 0 - 0 - 0 - 0
TRAINING - 0 - 0 - 0 - 0 - 0
SERVICES - 0 - 0 - 0 - 0 - 0
EQUIPMENT - 0 - 0 - 0 - 0 - 0
CAPITAL - 0 - 0 - 0 - 0 - 0
All Expenditures 26,850 26,450 26,450 26,850 26,450
Check
Use Subtotal formula check
TRUE
TRUE
TRUE
TRUE
TRUE
Grade
0 0 0
1 0 0 0
1 0 0 0
1 0 0 0
1 0 0 0
1 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
5
47

Exercise 22.5

To show the cell checking, put a check here: x Percent Correct 0%
To be fully graded, all cells must contain entries. Zero values should be entered as 0.
July August September October November December YTD Budget YTD Actual Variance Percent Variance Grade Text Based on your plan is there anything of concern your director needs to know?
REGULAR PAY 23,000 23,000 23,000 23,000 23,000 23,000 Text answer here
BENEFITS 3,450 3,450 3,450 3,450 3,450 3,450
TOTAL PERSONNEL 26,450 26,450 26,450 26,450 26,450 26,450
GENERAL SUPPLIES 400 - 0 - 0 400 - 0 - 0
SUPPLIES 400 - 0 - 0 400 - 0 - 0
SERVICE CONTRACT - 0 - 0 - 0 - 0 - 0 - 0
TRAINING - 0 - 0 - 0 - 0 - 0 - 0
SERVICES - 0 - 0 - 0 - 0 - 0 - 0
EQUIPMENT - 0 - 0 - 0 - 0 - 0 - 0
CAPITAL - 0 - 0 - 0 - 0 - 0 - 0
All Expenditures 26,850 26,450 26,450 26,850 26,450 26,450
Check
Use Subtotal formula check
Grade
0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0
47

Exercise 22.6

To show the cell checking, put a check here: x Percent Correct 0%
Please enter your name on the first page Grade in Points (All Sheets) 0.45
To be fully graded, all cells must contain entries. Zero values should be entered as 0.
Fiscal Year Total July August September October November December January February March April May June Check
REGULAR PAY
BENEFITS
TOTAL PERSONNEL
GENERAL SUPPLIES
SUPPLIES
SERVICE CONTRACT
TRAINING
SERVICES
EQUIPMENT
CAPITAL
All Expenditures
Appropriation from legislative body
Variance
Check
Use Subtotal Formula Check
Grade
0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0
0
0
0
170

Answer 1

YTD Budget YTD Actual YTD Variance % Variance
FEES 5,000 3,785 (1,215) -24.3%
FEE REVENUE 5,000 3,785 (1,215) -24.3%
All Revenue 5,000 3,785 (1,215) -24.3%
.
REGULAR PAY 132,710 122,360 10,350 7.8%
BENEFITS 44,442 41,816 2,626 5.9%
TOTAL PERSONNEL 177,152 164,176 12,976 7.3%
GENERAL SUPPLIES 1,095 - 0 1,095 100.0%
SUPPLIES 1,095 - 0 1,095 100.0%
SERVICE CONTRACT 2,644 1,798 846 32.0%
TRAINING 1,543 300 1,243 80.6%
TRAVEL 2,219 1,209 1,010 45.5%
POSTAGE 120 336 (216) -180.0%
SERVICES 6,526 3,643 2,883 44.2%
EQUIPMENT 5,000 - 0 5,000 100.0%
CAPITAL 5,000 - 0 5,000 100.0%
All Expenditures 189,773 167,819 21,954 11.6%

Answer 2

Fiscal Year Total July August September October November December January February March April May June Check
REGULAR PAY 276,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 - 0
BENEFITS 15% 41,400 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 - 0
TOTAL PERSONNEL 317,400 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 - 0
GENERAL SUPPLIES 1,600 400 400 400 400 - 0
SUPPLIES 1,600 400 - 0 - 0 400 - 0 - 0 400 - 0 - 0 400 - 0 - 0 - 0
SERVICE CONTRACT 42,000 15,000 2,000 25,000 - 0
TRAINING 3,000 3,000 - 0
SERVICES 45,000 - 0 - 0 - 0 3,000 - 0 15,000 2,000 - 0 - 0 - 0 - 0 25,000 - 0
EQUIPMENT 36,000 36,000 - 0
CAPITAL 36,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 36,000 - 0 - 0 - 0 - 0 - 0
- 0
All Expenditures 400,000 26,850 26,450 26,450 29,850 26,450 41,450 28,850 62,450 26,450 26,850 26,450 51,450 - 0
Appropriation from legislative body 400,000
- 0
Use of subtotal formula check TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE

Answer 3

July August September October November YTD Budget YTD Actual Variance Percent Variance
REGULAR PAY 23,000 23,000 23,000 23,000 23,000 115,000 115,000 - 0 0.0%
BENEFITS 3,450 3,450 3,450 3,450 3,450 17,250 17,250 - 0 0.0%
TOTAL PERSONNEL 26,450 26,450 26,450 26,450 26,450 132,250 132,250 - 0 0.0%
GENERAL SUPPLIES 400 - 0 - 0 400 - 0 800 780 20 2.5%
SUPPLIES 400 - 0 - 0 400 - 0 800 780 20 2.5%
SERVICE CONTRACT - 0 - 0 - 0 - 0 - 0 - 0 15,000 (15,000) -100.0%
TRAINING - 0 - 0 - 0 3,000 - 0 3,000 1,500 1,500 50.0%
SERVICES - 0 - 0 - 0 3,000 - 0 3,000 1,500 1,500 50.0%
EQUIPMENT - 0 - 0 - 0 - 0 - 0 - 0 - 0 0%
CAPITAL - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0%
All Expenditures 53,700 52,900 52,900 59,700 52,900 136,050 149,530 (13,480) -9.9%
Use Subtotal formula check TRUE TRUE TRUE

Answer 4

July August September October November December YTD Budget YTD Actual Variance Percent Variance
REGULAR PAY 23,000 23,000 23,000 23,000 23,000 23,000 138,000 138,000 - 0 0.0%
BENEFITS 3,450 3,450 3,450 3,450 3,450 3,450 20,700 20,700 - 0 0.0%
TOTAL PERSONNEL 26,450 26,450 26,450 26,450 26,450 26,450 158,700 158,700 - 0 0.0%
GENERAL SUPPLIES 400 - 0 - 0 400 - 0 - 0 800 780 20 2.5%
SUPPLIES 400 - 0 - 0 400 - 0 - 0 800 780 20 2.5%
SERVICE CONTRACT - 0 - 0 - 0 - 0 - 0 15,000 15,000 15,000 - 0 0.0%
TRAINING - 0 - 0 - 0 3,000 - 0 - 0 3,000 1,500 1,500 50.0%
SERVICES - 0 - 0 - 0 3,000 - 0 15,000 18,000 16,500 1,500 8.3%
EQUIPMENT - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0%
CAPITAL - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0%
All Expenditures 53,700 52,900 52,900 59,700 52,900 82,900 177,500 175,980 1,520 0.9%

Answer 5

Fiscal Year Total July August September October November December January February March April May June Check
REGULAR PAY 276,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 23,000 - 0
BENEFITS 15% 41,400 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 3,450 - 0
TOTAL PERSONNEL 317,400 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 26,450 - 0
GENERAL SUPPLIES 1,600 400 400 400 400 - 0
SUPPLIES 1,600 400 - 0 - 0 400 - 0 - 0 400 - 0 - 0 400 - 0 - 0 - 0
SERVICE CONTRACT 57,000 15,000 2,000 5,000 5,000 30,000 - 0
TRAINING 8,000 3,000 5,000 - 0
SERVICES 65,000 - 0 - 0 - 0 3,000 - 0 15,000 2,000 - 0 - 0 10,000 5,000 30,000 - 0
EQUIPMENT 33,000 33,000 - 0
CAPITAL 33,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 33,000 - 0 - 0 - 0 - 0 - 0
- 0
All Expenditures 417,000 26,850 26,450 26,450 29,850 26,450 41,450 28,850 59,450 26,450 36,850 31,450 56,450 - 0
Appropriation from legislative body 417,000
- 0
Use Subtotal Formula Check TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE

Grade Worksheet

2.5 Total Points Available Item Grade Weight x A mark here makes the numbers in the grade calculation visible.
0.25 Base Points (for trying this exercise)
0.4 Manual Points
1.85 Points to be graded
11% Percent all sheets
0.20 Graded Points
0 Text 3 0.2
0 Text 4 0.2
0.45 Initial Grade 0.4
0.15 Minimum Earned Points
0.4 Threshold
0.45 Grade Grade Table
A 100%
B 90%
C 80%
52 D 70%
483 F 0%