Group Activity
An example of a budget can be seen below. After viewing the budget, identify the possible reasons for the variations.
Budget - Jul / Dec 200X
|
Item Description
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
Total
|
|
Revenue
|
|
|
|
|
|
|
|
|
Sales Commission
|
22,000
|
26,000
|
50,000
|
55,000
|
45,000
|
35,000
|
233,000
|
|
Property Management
|
8,000
|
9,000
|
9,000
|
9,000
|
10,000
|
10,000
|
55,000
|
|
Total Revenue
|
30,000
|
35,000
|
59,000
|
64,000
|
55,000
|
45,000
|
288,000
|
|
|
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
|
|
|
Rent
|
4,500
|
4,500
|
4,500
|
4,500
|
4,500
|
4,500
|
27,000
|
|
Utilities
|
800
|
800
|
800
|
800
|
800
|
800
|
4,800
|
|
Salaries
|
22,000
|
22,000
|
22,000
|
22,000
|
22,000
|
22,000
|
132,000
|
|
Printing
|
300
|
300
|
300
|
300
|
300
|
300
|
1,800
|
|
Advertising
|
1,000
|
1,000
|
1,500
|
2,000
|
1,500
|
1,500
|
8,500
|
|
Professional Fees
|
4,000
|
0
|
0
|
1,000
|
0
|
0
|
5,000
|
|
Interest on Borrowings
|
1,000
|
1,000
|
1,000
|
1,000
|
1,000
|
1,000
|
6,000
|
|
Total Expenses
|
34,100
|
30,100
|
30,600
|
32,100
|
30,600
|
32,100
|
185,100
|