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module_11_questions.docxModule 11 Questions/Problems - Calculate and Analyze Budget Variance
The following table shows a portion of a health information management (HIM) department's supplies and materials from the previous year.
|
Prior-year Expenditures Budget vs. Actual |
||
|
Item |
Budget Amount |
Amount Spent |
|
Supplies |
$1,200 |
$1,000 |
|
Travel |
$2,000 |
$2,500 |
|
Conference Fees |
$1,000 |
$1,200 |
|
Membership Dues |
$750 |
$600 |
|
Subscriptions |
$350 |
$325 |
|
Equipment |
$5,000 |
$3,000 |
Calculate and analyze the variance for the budgeted amount and the actual amount spent. Along with each variance calculation, prepare a brief justification of why there may be a variance.
