Instructions for Budget Application Assignment You are the supervisor for a department and you have been given the following information to prepare a Budget for 2022 and Projections for 2023: The foll

Instructions for Budget Application Assignment

You are the supervisor for a department and you have been given the following information to prepare a Budget for 2022 and Projections for 2023:

The following are the budget items:

2022 Budget:

Staff Payroll is $775,000; Employee Health Insurance is $250,000, Computer Equipment is $97,495 and Staff Training is $125,448.

In an excel spreadsheet, you are to calculate the total budget for your department.

On the same spreadsheet,  in a separate column,  you are to show what your actual amount was for each category. Here are your actual numbers:

2022 Actual:

Staff Payroll is $978,456; Employee Health Insurance is $175,000 Computer Equipment is $146,399 and Staff Training is $85,369. Calculate the total cost for your department.

Calculate the Variance  (budget – actual) and show this on a bar chart. Be sure to show the formulas. Use the excel functions to do the calculations.

In a Pie Chart show the breakdown of each category for the actual costs. 

2023 Projections:

You are asked to present your projections for the next year and you are told that there will be an overall increase in the organizational budget from 3% - 10%. Your department was given a 6% increase. Use the same percentage for each category and calculate the projected Budget for 2023.

Using the same spreadsheet, show your calculations for the projected budget.