Maria's initial project budget was increased from $16,000 to $18,000. what was the variance from the initial budget?

a. -12.50%
b. 88%
c. 11%
d. 12.50%

D. 12.50%

Explanation:

Initial budgeted amount = $16,000

Final budgeted amount = $18,000

Change in amount budgeted  = $18,000 - $16,000 = $2,000

Variance from initial budget is the ratio of the change in the budgeted amount to the initial amount budgeted expressed as a percentage.

Therefore,

Variance = (2000/16000) × 100%

               = 12.5%

Option D. 12.50% is right.

choices : )

explanation:

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