Using the variance formula calculate the budget


Using the variance formula, calculate the budget variance in the following scenarios:

The HIM supply budget for last quarter was $3000; the actual amount spent was $4,000.

The HIM education and training budget was $1,000; the actual amount spent was $2,000.

The coding department had an estimated quarterly operation budget of $62,000; the actual cost of operation was $76,000.

 

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