Budgeting and Variance Analysis at Netflix Inc.

Requirements:

1. Prepare a detailed budget for Netflix Inc.'s upcoming fiscal year, considering fixed costs, variable costs, and projected revenues for each department (e.g., Content Creation, Marketing, IT Infrastructure).

Department	Budgeted Amount ($)
Content Creation	8,000,000
Marketing	2,000,000
IT Infrastructure	1,500,000
Total Budget	11,500,000

2. Perform variance analysis comparing actual performance against budgeted figures for Netflix's original content production, focusing on materials, labor, and overhead costs.

Cost Element	Actual ($)	Budgeted ($)
Materials	1,500,000	1,200,000
Labor	3,000,000	2,800,000
Overhead	1,200,000	1,000,000

3. Identify favorable and unfavorable variances, and provide explanations for each.
4. Recommend corrective actions to align actual performance with budgeted targets and improve cost control.