At Statewide Insurance, each department’s expenses are reviewed monthly. A department can fail to pass the budget variance test in a category if either (i) the absolute value of the difference between actual expenses and the budget is more than $500 or (ii) the absolute value of the difference between the actual expenses and the budget is more than 5% of the budgeted amount. Which of the following items fail the budget variance test? Explain your answers.
Item | Budgeted Expense ($) | Actual Expense ($) |
Wages | 220,750 | 221,239 |
Overtime | 10,500 | 11,018 |
Shipping and Postage | 530 | 589 |
The wind-chill factor, shown in the table, calculates how a given temperature feels to a person’s skin when the wind is taken into account. For example, the table shows that a temperature of 20° in a 40 mph wind feels like −1°.*
Wind (mph) | |||||||||
Tem[erature (F°) | Calm | 5 | 10 | 15 | 20 | 25 | 30 | 35 | 40 |
40 | 36 | 34 | 32 | 30 | 29 | 28 | 28 | 27 | |
30 | 25 | 21 | 19 | 17 | 16 | 15 | 14 | 13 | |
20 | 13 | 9 | 6 | 4 | 3 | 1 | 0 | −1 | |
10 | 1 | −4 | −7 | −9 | −11 | −12 | −14 | −15 | |
0 | −11 | −16 | −19 | −22 | −24 | −26 | −27 | −29 | |
−10 | −22 | −28 | −32 | −35 | −37 | −39 | −41 | −43 | |
−20 | −34 | −41 | −45 | −48 | −51 | −53 | −55 | −57 | |
−30 | −46 | −53 | −58 | −61 | −64 | −67 | −69 | −71 | |
−40 | −57 | −66 | −71 | −74 | −78 | −80 | −82 | −84 | |
*Table from the Joint Action Group for Temperature Indices, 2001.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.