The actual are retrospective - they have occurred and have to entered in a budget document against what was budgeted so that you have the budget then actual and then you will find the difference plus or minus against budget. The date for actual comes from what has happened i.e. in a wage budget you will plan what you spent, after that period (month of the year) you will have the actual cost of the wage. The costs would be made available from the the department who make up the wages.
actual budget/budget = variance%
Variance = 100*(Actual - Budget)/Budget
In a more simply way you divide the actual cost incurred by the projected budge/amount.
Actual sales (quantity ) = flexible budget sales (quantity ) , because the flexible budget is prepared based on the actual activity level (units sold ) to avoid misleading of compering the static budget sales and actual sales
flexible budget and actual results
Budget is the projected financial estimate in a given year, whilst expenditures are the actual expenses incured in carrying out the budget.
A budget "variance" is the difference between planned and actual performance.
SALES
A budget "variance" is the difference between planned and actual performance.
It would be an expense budget.
Rigid Budget: It does not change with actual volume of activity achieved. Thus it is known as a Rigid or inflexible budget.
we budgeted 10434528. and Actual is 12597289.79 what's the percentage increase