Working off the budget you prepared for Netflix for 2021, you will evaluate the variance for the 'actual' activity that occurred each month. You will use the attached worksheet to provide the dollar and percentage difference of budget vs. actual. Remember, your budget total should have been $480,270. However, the actual budget came in at $445,816.

The following are the assumptions for the Budget from Module 3.
Wages There are 5 members in the department: One Director that gets paid $130,000/year. One Supervisor that gets paid $95,000/year. Three Junior Staff members that get paid $65,000/year each.
Travel There are three conferences in 2021 and you will be sending 2 employees to each conference. The first two conferences cost $3,000 per person and the third conference is $5,000 per person. The conferences will be held in February, May, and September Meals Meals will be paid for travel to the conferences mentioned above. Each person will receive $250 per day and each conference is five days.	Training The entire department will be attending a training seminar in April and the cost is $5,000 per person. Meals During the training session for the entire department, each person will receive $250 per day for meals and the training session is for three days.	Supplies Each person in the department spends $24 per month each for supplies Miscellaneous The company always allocates $50 per month for miscellaneous expenses from January - October and then $40 per month for November - December.

After you have performed the dollar and percentage variances for each month, you are to take the information and explain why you came in under budget. January has already been done for you. You must fill out the variances for EVERY month.

Excel Spreadsheet:M5 - Budget Variance Worksheet template.xlsxDownload M5 - Budget Variance Worksheet template.xlsx

To finish your evaluation of the budget, you will type a memo to the CFO and explain the variances for your department. Make sure to include:

Introduction - what the memo is about

1. Variance Analysis

• • • Provide a high-level explanation by category. For example, after you have completed the variances for each month, there is a section that will total everything up by category (Wages, Travel, Meals, Training, Supplies, and Miscellaneous.) The total for the year will calculate automatically as you enter the dollar and percentage equations.

2. If it helps to you explain, you can include a screenshot of the total variance section or, make sure you attach the Excel file as well in Canvas. 3. Provide justification for wanting the same amount of budget for the following year, even though you did not spend the budget that was allocated to you at the beginning of the year.

canvas.cwu.edu C Module #5 Assignment: Variance Analysis st Career Opportunities: Sign In + M5 - Budget Variance Worksheet template.xisx Download @ Info X Close - ZOOM + Variance Analysis $ Variance Analysis Calculation: Actual minus Budget % Variance Analysis Calculation: $ Variance / Budget Jan - Jan - Feb - Feb - Mar - Mar - Budget Actual $ Var % Var Budget Actual $ Var *% Var Budget Actual $ Var % Var Total - Budget Total - Actual $ Var % Var Wages 35,000 35,000 5 0% Wages 35,000 35,000 Wages 35,000 35,000 420,000 $ 409,166 Travel Travel 6000 Travel 6000 22,000 $ 12,000 Meals O S Meal 2500 Meals 1500 11,250 $ 3,500 Training os Training Training 25,000 $ 20,000 Supplies 20 LOO S (20.00 -17%% Supplies 120 Supplies 120 100 1,440 $ 900 Miscellaneous 50 os (50.00) 100% Miscellaneous 50 100 Miscellaneous 50 580 250 $ 35,170 $ 35,100 (70) -0.2% 43,670 $ 35,100 0.0% $ 35,170 $ 42,600 0.0% 480,270 $ 445,816 0.0% Apr - Apr - May - May - Jun - Jun - Budget Actual $ Var % Var Budget Actual $ Var %% Var Budget Actual $ Var % Var Wage 35,000 29,583 Wages 35,000 29,583 Wages 35,000 35,000 Travel ravel 10000 travel 0 Meals 3750 Meals 2500 Meals Training 5000 Training Training Supplies 120 Supplies 120 Supplies 120 00 Miscellaneous 50 Miscellaneous 50 So Miscellaneous 50 $ 63,920 $ 49,583 $ 0.0% 47,670 $ 29,683 $ 0.0% $ 35,170 $ 95,100 $ 0.0% Jul - Aug - Sep - Budget Jul - Actual $ Var *% Var Budget Actual $ Var * Var Budget Actual $ Var % Var Wages 35,000 35,000 Wages 35,000 35,000 Wages 35,000 35,000 Travel ravel 0 travel 6000 6000 Meals Meals Meals 2500 2000 Training Training Training Supplies 120 Supplies 120 Supplies 120 Miscellaneous 50 Miscellaneous 50 Miscellaneous 50 50 $ 35,170 $ 35,500 0.0% $ 35,170 $ 35,000 0.0% $ 43,670 $ 43,050 0.0% Oct - Oct . Nov - Nov - Dec - Dec - Budget Actual $ Var % Var Budget Actual $ Var %% Var budget Actual $ Var % Var Wage 5,000 35,000 35,000 35,000 Wages 35,000 35,000 Travel ravel 0 Travel 0 Meals 0 Meals Meals Training Training Training Supplies 120 Supplies 120 upplies 120 Miscellaneous 50 Lol Miscellaneous 40 Miscellaneous 40 50 $ 35,170 $ 35,000 0.0% $ 35,160 $ 35,000 0% $ 35,160 $ 35,100 0.0%