Miriam's Income Statement for the Previous (20X1)year Was as Follows

Essay

Miriam's Income Statement for the previous (20X1)year was as follows:
a Calculate the variances from budget (and designate as favourable or unfavourable).
b Explain possible reasons for the 3 most significant revenue or expense item budget variances (ignore profit and subtotal variances);also explain a possible reason for the telephone and internet variance.