Jelow by: m answered Marked out of 13.50 Tag question calculating the variance S calculating the variance % to 2 decimal places indicating whether the variance is Favourable (F) or Unfavourable (U) 2 A- B I ITEM $ BUDGET ACTUAL VARIANCE VARIANCE FAVOURABLE (F) PREDICTION RESULT or % UNFAVOURABLE (U) Salaries 120,000 135,000 Office expenses 1,000 750 Insurance expense 1,300 1,300 Cash sales 140,000 181,000 Service revenue 14,000 13,500 Account receivable 65,000 78,000 collections Inventory purchases 80,000 0 Creditor payments 15.000 14,500 Capital contribution 22,000 28,000