Analyze the variance for the budgeted amount
The following table shows a portion of a health information management (HIM) department’s supplies and materials from the previous year.
Prior-year Expenditures Budget vs. Actual
Item Budget Amount Amount Spent Supplies $1,200 $1,000 Travel $2,000 $2,500 Conference Fees $1,000 $1,200 Membership Dues $750 $600 Subscriptions $350 $325 Equipment $5,000 $3,000
Calculate and analyze the variance for the budgeted amount and the actual amount spent. Along with each variance calculation, prepare a brief justification of why there may be a variance.
Submit your completed assignment by following the directions linked below. Please check the Course Calendar for specific due dates.
Save your assignment as a Microsoft Word document. (Mac users, please remember to append the “.docx” extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date.
