Question
Gamma Services Month Budgeted Revenue Actual Revenue Budgeted Costs Actual Costs January $500,000 $480,000 $300,000 $310,000 February $600,000 $620,000 $350,000 $340,000 March $700,000 $680,000 $400,000
Gamma Services
Month | Budgeted Revenue | Actual Revenue | Budgeted Costs | Actual Costs |
January | $500,000 | $480,000 | $300,000 | $310,000 |
February | $600,000 | $620,000 | $350,000 | $340,000 |
March | $700,000 | $680,000 | $400,000 | $390,000 |
Requirement: Calculate the variances for revenue and costs for each month and analyze the reasons for these variances. Discuss the implications for future budgeting.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
