Difference between actual amount and budgeted amount is called "Variance" and variance analysis is done to find out the reasons for variance
For most accounting entities in the United States, variances are neither debits nor credits, because variances are not recorded on the books of a business. A variance is simply the difference between what we expected the business to earn or spend and what it actually did earn or spend. Only the things that actually did happen are recorded on the books. But the amount we had expected to earn at the beginning of the year can be found in the budgets, forecasts or plans we created for the year when we set up budgets for the year. The difference between what we budgeted for and what actually happened is called the variance from budget. For example, if at the beginning of 2008, we projected that we would have total sales of $5 million dollars for the entire year, but twelve months later, we found that we had had only $4 million in sales in 2008, there is a variance of $1 million dollars, and it is unfavorable, because we actually had less sales revenue than we thought we would earn at the beginning of the year. But if our actual sales for 2008 totalled $6 million, the variance would still be $1 million, but it would be a favorable variance, because we made $1 million more in sales ($6 million) than we originally thought we would (5% million). If actual expenses are higher than the budgeted amount, the difference between the two amounts is an unfavorable variance, because we spent over budget, which reduces our profits. However, if actual expenses are lower than the budgeted amount, the difference is a favorable variance, because we were able to spend less than we thought we would have to, and our profits would be higher.
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
The difference between disbursement and reimbursement is that with reimbursement a person is getting back every cent they paid in. Disbursement is a set amount or percentage of money paid in.
Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property's adjusted basis at the date of dispositionAnswer: TrueRealized gain or loss is the difference between the amount realized and the property's adjusted basis.
Hi, Fixed Deposit : Deposit certain amount for certain period of time either monthly/yearly and fetching of amount is optional. If you need to get the FD amount in 1 year (example), interest will be added with the actual amount . The interesting rate is depends on your bank. Recurring Deposit : Deposit fixed amount in regular time period. At final you will get the total amount with specific interest.
Budgeted gross profit is the expected profit amount before the start of production run while actual gross profit is the actual amount of profit which company earns after the production and sales of product.
If the budgeted amount is 0 and the actual amount is $300, what is the variance percentage?
A variance is the difference between the projected budget and the actual performance for a particular account. A negative variance means that the budgeted amount was greater than the actual amount spent. A positive variance means that the budgeted amount was less than the actual amount spent. Note there is some debate over whether a negative variance means an underrun or an overrun. The Project Management Institute, however, endorses the accepted convention that a negative variance is a bad thing, and a positive variance a good thing.
A numeral is the symbol or word that represents the number, while a number is the actual amount of the numeral.
It can be either the amount and/or the actual pigment that varies. Most of the responsible chemicals are carotenoids.
Actual compensation will always be less than theoretical payouts. For example, it the posted payout is 50%, the actual payout will be somewhere closer to half of that amount, or 25% actual payout.
Humidity is the amount of water vapor at any given time and relative humidity is the amount of water vapor in the air compared to the greatest amount it can hold at that air temperature.
For most accounting entities in the United States, variances are neither debits nor credits, because variances are not recorded on the books of a business. A variance is simply the difference between what we expected the business to earn or spend and what it actually did earn or spend. Only the things that actually did happen are recorded on the books. But the amount we had expected to earn at the beginning of the year can be found in the budgets, forecasts or plans we created for the year when we set up budgets for the year. The difference between what we budgeted for and what actually happened is called the variance from budget. For example, if at the beginning of 2008, we projected that we would have total sales of $5 million dollars for the entire year, but twelve months later, we found that we had had only $4 million in sales in 2008, there is a variance of $1 million dollars, and it is unfavorable, because we actually had less sales revenue than we thought we would earn at the beginning of the year. But if our actual sales for 2008 totalled $6 million, the variance would still be $1 million, but it would be a favorable variance, because we made $1 million more in sales ($6 million) than we originally thought we would (5% million). If actual expenses are higher than the budgeted amount, the difference between the two amounts is an unfavorable variance, because we spent over budget, which reduces our profits. However, if actual expenses are lower than the budgeted amount, the difference is a favorable variance, because we were able to spend less than we thought we would have to, and our profits would be higher.
It depends upon the amount of money you have budgeted to spend.
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
It has a different amount of space between molecules.
The difference is the amount of hydrogen and oxygen