Budget Variance Analysis (Sales and Expenses):

A retail company had the following budgeted and actual figures for the month of May:

• Budgeted Sales Revenue: $100,000
• Actual Sales Revenue: $90,000
• Budgeted Expenses: $80,000
• Actual Expenses: $75,000

Requirements:

1. Calculate the sales revenue variance.
2. Calculate the expenses variance.
3. Discuss the overall variance for the company and possible reasons for it.