Fran Powers created the following budget and reported the actual spending listed. Calculate the variance for each of these categories, and indicate whether it was a deficit or a surplus. (Input all amounts as positive values.) Actual $ 311 $ 381 $986 $192 $ 239 Variance Item Food Transportation Housing Clothing Personal Budgeted 355 339 940 $ 139 319 Deficit/Surplus (Click to select) (Click to select) (Click to select) (Click to select) (Click to select)

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10-12-2022
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Fran Powers created the following budget and reported the actual spending listed. Calculate the variance for each of these categories, and indicate whether it was a deficit or a surplus. (Input all amounts as positive values.) Actual $ 311 $ 381 $986 $192 $ 239 Variance Item Food Transportation Housing Clothing Personal Budgeted 355 339 940 $ 139 319 Deficit/Surplus (Click to select) (Click to select) (Click to select) (Click to select) (Click to select)

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Yogeshkumari Yogeshkumari · Answer 1 · 2022-12-16T06:35:46+01:00

Item Budgeted Actual Variance Deficit/Surplus are Food $ 360 $ 298 $ 62 surplus, Transportation $ 320 $ 334 $ 14 deficit ,Housing $ 950 $ 982 $ 32 deficit, Clothing $ 110 $ 134 $ 24 deficit and Personal $ 275 $ 231 $ 44 surplus.

In addition to theories of unemployment, several classifications of economic surplus, commonly referred to as gross welfare, total welfare, or Marshallian surplus in mainstream economics, are one of two closely related: The financial benefit that consumers derive from being able to purchase a good at a price less than the maximum price they are willing to pay is called consumer surplus or consumer surplus.

The amount that producers gain by selling at a market price higher than the lowest price they are willing to sell is called producer surplus and it is essentially equivalent to profit.

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