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

business xyz has the following projected budget and actual budget for a given month:\n| | budget | actual |\n|--|--|--|--|\n| payroll | $24,000 | $25,275 |\n| inventory | $12,700 | $12,100 |\n| rent | $7,500 | $7,700 |\n| services | $5,000 | $5,100 |\ncalculate the percent change that inventory is under 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 | $24,000 | $25,275 |\n| inventory | $12,700 | $12,100 |\n| rent | $7,500 | $7,700 |\n| services | $5,000 | $5,100 |\ncalculate the percent change that inventory is under budget.\n%δ = ?%\nanswer as a percent rounded to the nearest tenth.

Answer

Explanation:

Step1: Calculate the difference between actual and budget

[ 12100 - 12700 = -600 ]

Step2: Compute percent change using formula

[ % \Delta = \frac{-600}{12700} \times 100 ]

Step3: Round to nearest tenth

[ % \Delta \approx -4.7% ] (Since it's under budget, the negative indicates below budget)

Answer:

-4.7%