ABC Pty Ltd has been in the business for few years. In order to expand the business, it requires external funding from the Bank. On receiving the loan request, the bank has asked the firm supply it with complete Financial Statements and its Performance Report. The accountant of the ABC Pty Ltd has just prepared the following Financial Statements.

Can you tell me how can calculation variance ?pls!

I'll Optus AU - 23:36 8 24% {\\ a moodle . cibt . edu . au Crown Institute of Business and Technology Pty Led ABN 86 116 018 412 National Provider No : 91371 CRICOS Provider Code : 02870 0 North Sydney Campus : 116 Pacific Highway North Sydney N SW 2060 P 02 9955 0488 F 02 9 955 3888\\ Sydney CBD Campus : Level 5 , 303 Pitt St Sydney NSW 2000 P 02 895 9 6340 F 02 9955 3888\\ FROMPOSSEILITYIO ACTUALITY canberra Campus : Suite 1 , Level 4 , 40 Cameron Avenue , Belconnen , ACT 2617 P 02 6253 5184 ABC Pty LEd Statement of Financial Position as at 30 June 2019 Budget Actual Variance $ % of Budget F / U Current Assets Bank 6 , 800 7 , 200 Accounts Receivable* 23 , 010 25 , 600 Inventory 9 , 200 10 , 750 Total Current Assets 39 , 010 43 , 550 Non - Current Assets Plant ( net ) 22 , 100 25 , 500 Motor Vehicles ( net ) 15, 000 15 , 000 Total Non - Current Assets 37 , 100 40, 500 Total Assets 76 , 110 84 , 050 Current Liabilities Accounts Payable 16 , 600 15 , 010 Bank Overdraft* 3, 500 3, 500 Total Current Liabilities 20 , 100 18 , 510 Non - Current Liabilities Secured Loan 12 , 000 12, 000 Total Non- Current Liabilities 12 , 000 12 , 000* Total Liabilities 32 , 100 30 , 510 Net Assets 4 4 , 010 53, 540 Equity Share Capital 40, 000 40, 000 Reserves 4 , 010 13 , 540 4 4 , 010 53, 540 FNSACC 5 7 1 Assessment Task 02 v 2. 1 Page 3 of 5\\ Q 100 >