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the electricity expense for a firm was budgeted as $2,100 but observed figures showed that the establishment spent $3,000 as an electricity expense. calculate the relative variance of the electricity expense for this firm by indicating the variance condition (favorable or unfavorable). group of answer choices 42.86% (u) 42.00% (u) 42.86% (f) 41.13% (f)

Answer :

Varshamittal029go

The relative variance of the electricity expense for this firm by indicating the variance condition is 42.86% option b.

Budgeted electricity expense- $2100
Actually spent- $3000
Change in electricity expenses= $900
$900 spent more than the budget (unfavorable) percentage of variance is
                              = $900/2100×100
                              = 42.86%
Variance condition- A conditional variance is the variance of a random variable determined by the value of one or more other variables in probability theory and statistics. The conditional variance is often referred to as the scedastic function or skedastic function, particularly in econometrics.

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