Reviewing the budget answer the following questions. 8. part of preparing a medical office budget is to regularly compare your practice’s actual finances with your budget. assess the information in the table below: a. determine the variance for each month. b. for each month, was the practice “underbudget” or “overbudget”? month budget actual variance underbudget or overbudget january 2,355,872 1,790,929 type answer here type answer here february 2,654,031 2,827,606 type answer here type answer here march 2,239,980 2,924,180 type answer here type answer here april 3,350,156 3,867,270 type answer here type answer here may 2,404,480 2,413,107 type answer here type answer here june 2,307,708 2,220,000 type answer here type answer here

For each month we calculate the variance by finding the difference between the Actual numbers and Budget numbers.

Then we indicate if the practice was "Overbudget" or "Underbudget".

If the actual numbers are less than the budget numbers, the budget is we say that the budget is under budget.

If the actual numbers are more than the budget numbers, the budget is we say that the budget is over budget.

Month    Budget   Actual               Variance        Under/ over  

                                                             (Actual -Budget)   Budget

January  23,55,872   17,90,929      -5,64,943      Under Budget

February  26,54,031   28,27,606       1,73,575      Over Budget

March  22,39,980   29,24,180        6,84,200      Over Budget

564943

2355872-1790929

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