Variance Analysis

Review the attached financial statement and related budget. Identify 10 significant variances. Remember that a significant variance is one that deviates from the budget by more than 5%. Once you have identified the variances, suggest two to three possible causes of each variance. Finally, make two to three recommendations on how you would try to resolve each variance as a manager.

There is an excel sheet attached to this question with the financial statement. Use this for the assignment. The three points below are what need to be focused on.

• Identify the 10 significant variances 
• Possible causes of these variances 
• Possible solutions to resolve the variances