business xyz has the following projected budget and actual budget for a given month:\n| |budget|actual|\n|--|…

business xyz has the following projected budget and actual budget for a given month:\n| |budget|actual|\n|--|--|--|\n|payroll|$25,000|$25,575|\n|inventory|$12,500|$11,900|\n|rent|$7,500|$7,600|\n|services|$5,000|$5,200|\ncalculate the percent change that services is over budget.\n%δ = ?%\nanswer as a percent rounded to the nearest tenth.

business xyz has the following projected budget and actual budget for a given month:\n| |budget|actual|\n|--|--|--|\n|payroll|$25,000|$25,575|\n|inventory|$12,500|$11,900|\n|rent|$7,500|$7,600|\n|services|$5,000|$5,200|\ncalculate the percent change that services is over budget.\n%δ = ?%\nanswer as a percent rounded to the nearest tenth.

Answer

Explanation:

Step1: Identify the formula for percent - change

The formula for percent - change is $% \Delta=\frac{\text{Actual}-\text{Budget}}{\text{Budget}}\times 100%$.

Step2: Identify the budget and actual values for Services

For Services, the budget is $$5000$ and the actual is $$5200$.

Step3: Substitute the values into the formula

$% \Delta=\frac{5200 - 5000}{5000}\times 100%$. First, calculate the numerator: $5200−5000 = 200$. Then, $\frac{200}{5000}\times 100%=0.04\times 100%$.

Step4: Calculate the result

$0.04\times 100% = 4.0%$.

Answer:

$4.0$