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ON 2 When Liesl was about to get married, she drew up a budget for her wedding. After it wedding she completed the budget by

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ON 2 When Liesl was about to get married, she drew up a budget for her wedding. After it wedding she completed the budget by adding all the actual incomes and expense, Consider the information below and answer the questions, INCOME Planned Actual Parents' Contribution R60 000.00 Savings R.7 000.00 R4 500,00 Loan R23 000,00 R.23 000.0 Cash gifts F6 000,00 R4 560.00 TOTALS R96 000.00 R.92 0GOOD Variance in the total income EXPENSES Estimated Actual Wedding and accessories( bride and groom) R.18 000,00 R.22 000,00 Ceremony 15 000,00 R4 600,00 Reception R38 DIO,0 R41 000 00 Flowers and decorations R3 500,00 R3 500.00 PA, audio visual R2 000,00 R3 000.00 Photos and videos R 16 00D.00 R13 350.00 Candles and fairy lights R7500.00 R8 000,00 equipment hire F1 500.00 R2 040,00 OTALS R91 500.00 R97 490,00 Variance in total expenses 2.1.1 Calculate the values for A of B in the budget. Would Liesl have a surplus or deficit after she had done the reconciliation (balancing) of her finances? How much was the surplus/deficit? 2.1.3 Consider the cost for the photos and videos in the expenses table. Determine the variance in the cost for the photos and videos. G b) Was this a favourable or unfavourable scenario when considering the variance? (2 x 1]

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