# Calculate and Analyze Budget Variance

Anonymous
timer Asked: Mar 16th, 2016

Question description

The following table shows a portion of a health information management (HIM) department's supplies and materials from the previous year.

 Prior-year ExpendituresBudget 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.

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