QUESTION 3 3.1 You get a job in a company. The Manager wants to check if the 2020 Financials are under control. He gives you the Table information below for 2020 and asks the following questions? 3.1.1 What is Pareto? (3) 2.2.2 Is the Total budget overspent or underspent? By what percentage? (3) 2.2.3 Which department would you focus on in the following year (2021) if the (5) budget is to be under control? Why? EXPENDITURE FOR ALL COST CENTRES 2020 (IN RANDS) Number Cost center Budget Actual Spend 310 Transport 200 000 120 080 320 Workshops 150 000 76 870 Production 600 000 781 190 340 Laboratory 100 000 100 230 Total 1 050 000 1 078 370 330 Balance 79 920 73 130 -181 190 -230 -28 370 [11]