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Answer the following question based on what you see in the picture. Explain how you would reconcile the budget variance. In other words, what would
Answer the following question based on what you see in the picture.
2 3 4 5 6 7 8 9 10 11 12 13 14 15 Item Rent Dining out Utilities Entertainment Credit cards Groceries Salons Total Forecas $700 $60 $100 $75 $250 $375 $110 $1,670 Actual 700 50 $120 $60 $250 $400 $100 $1,680 Variand - 0 10 -20 15 0 -25 10 ($10) Explain how you would reconcile the budget variance. In other words, what would you do with the difference between what you thought you were going to spend versus what you actually spent. Would you change any of your behavior, habits or lifestyle in the future to stay within your budget?
please explain how to calculate the actual and the variance
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