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|$24,500|$25,475|\n|inventory|$12,700|$12,200|\n|rent|$7,400|$7,800|\n|services|$5,000|$5,300|\ncalculate the percent change that rent 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|$24,500|$25,475|\n|inventory|$12,700|$12,200|\n|rent|$7,400|$7,800|\n|services|$5,000|$5,300|\ncalculate the percent change that rent is over budget.\n%δ = ?%\nanswer as a percent rounded to the nearest tenth.

Answer

Explanation:

Step1: Calculate the difference between actual and budget

$7800 - 7400 = 400$

Step2: Divide the difference by the budget amount

$\frac{400}{7400} \approx 0.05405$

Step3: Convert to percentage and round to nearest tenth

$0.05405 \times 100 \approx 5.4%$

Answer:

5.4%