The following table shows a portion of a health information management (HIM) department's supplies and materials from the previous year.
Prior-year Expenditures
Budget vs. Actual |
| Item |
Budget Amount |
Amount Spent |
| Supplies |
$1,200 |
$1,000 |
| Travel |
$2,000 |
$2,500 |
| Conference Fees |
$1,000 |
$1,200 |
| Membership Dues |
$750 |
$600 |
| Subscriptions |
$350 |
$325 |
| Equipment |
$5,000 |
$3,000 |
Calculate and analyze the variance for the budgeted amount and the actual amount spent. Along with each variance calculation, prepare a brief justification of why there may be a variance.