Analyze budget variances for a department with the following data:

77. 
    

Category	Budgeted Amount ($)	Actual Amount ($)
Personnel	200,000	210,000
Supplies	45,000	42,000
Utilities	30,000	32,000
Maintenance	35,000	38,000

Requirements:

• Calculate the variance for each budget category.
• Analyze the variances into favorable and unfavorable components.
• Present the analysis in a budget variance report.
• Discuss potential reasons for budget variances.
• Identify implications for future planning.
• Provide recommendations for improving budget accuracy.