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2. Complete the table below Expense Budget $ Actual $ Variance $ U/F Power 23,000 21,000 -2,000 F Maintenance 19,000 11,000 -8,000 F Labour 35,500 40,000 +4,500 U Rent 1,800 1,900 +100 U Cleaning 70 50 -20 F Advertising 250 300 +50 U Wages 3,000 3,500 +500 U Total 82,620 77,750 -4,870 F What would management have to do to get the budget back on track, give a reason for all suggestions ? We can compare the budget with the actual cost from the table above.As you can see, through proper budget variance, general cost costs, including facility maintenance and rental, marketing, and cleaning have occurred a favorable. However, the actual use of labor expenses are higher than projected expenses. As a result, wages variance also have occurred unfavourable. As such, it can be seen that human resources requirements affect budgets. This is because new employees who need it spend extra money on their budgets. This includes not only the wage, but on-costs such as superannuation and workers compensation insurance as well. Therefore, we should consider a lot when setting the employment wage budget.This is because one well-trained worker can greatly reduce the budget. . ee3eab5e41c41c0e74a1f4561d59745f21bdaf23.docx Assessment 1 Version 1 Page 4 of 4 ©copyright Academia International 2018 Approved By: B.Wade
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- Spring '20
- Payment, Juno Lee