Budget Activity

Based on the sample document in D2L, the answers for the required questions are below.
Question 1
a. What is the year to date actual total revenue?
The year to date actual total revenue is 508,190.67.
b. What is the year to date budgeted total revenue?
The year to date budgeted total revenue is 545,660.98.
c. What is the variance between a and b?
The variance between a and b is -37,470.31 (Actual-budget)
d. Is this variance considered in the red or black?
This under earned revenue (negative variance) is unfavorable which is considered in red.
Question 2
a. What is the year to date actual employee expense in wages?
The total year to date actual employee expense in wages is 91,110.45
b. What is the year to date budgeted employee expense in wages?
The year to date budgeted employee expense in wages are 82,872.00
c. What is the variance between a and b?
The variance is -8238.45 (budget actual).
d. Is this variance considered in the red or black?
The variance indicates overspending which is unfavorable, so it is considered in red
again.
Question 3
a. What is the year to date actual subtotal operating expense?
The year to date actual subtotal operating expense is 385,095.29.
b. What is the year to date budgeted subtotal operating expense?
The year to date budgeted subtotal operating expense is 358,317.18.
c. What is the variance between a and b?
The variance between a and b is -26,778.11 (budge actual).
d. Is this variance considered in the red or black?
This variance is unfavorable overspending, so it is considered in the red.
e. What expense is not included in this subtotal operating expense that contributes to the
total operating expense?
Total allocated expense which includes allocated expense billing and nonbilling is not
included in subtotal operating expense that contributes to the total operating expense.
Question 4
a. To date, is this facility operating at a profit or loss?
This facility is operating at a profit with positive year to date variance between actual and
budgeted grand total profit.
b. Based on your answer for 4a, how large is the variance from the budgeted profit/loss?
The variance between actual and budgeted grand total profit is 54,603.93.

Question 5
a. Based on the line item entries, what is the largest debited item.
The largest debited item is the gross charges discounts at 800,805.26.
b. Part of what series?
It was part of financial series.
c. What entry date?
It was on 8/31/2010.
Question 6
a. Based on the line item entries, what is the largest credited item.
The largest credited item was gross charges at 1,177,544.00.
b. Part of what series?
It was part of financial series.
c. What entry date?
It was on 8/31/2010.
Question 7
a. Based on the line item entries, what total dollar amount was spent on uniforms and
laundry?
The total dollar amount spent on uniforms and laundry was 1223.33.
Question 8
a. Based on the line item entries, what total dollar amount was spent on maintenance
&Repairs?
The total amount spent on maintenance and repairs was 20,659.54
b. In reference to 8a, what does FF&E stand for in budgeting?
FF&E stands for furniture, fixtures and equipment in budgeting.