Gas Budget Variance Case Study

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While attempting to solve Jake’s gas budget variance, it is essential to highlight a working definition of budget variance. A budget variance is “A difference between the actual results of your financial activity and your expected, budgeted results” (Siegel & Yacht, 2009, p. 104). In other words, what you budgeted for is one thing; your expected result proves a different outcome. With this definition in mind, there are three things Jake should do to balance his gas budget as anticipated. First, Jake should attempt to monitor or regulate his financial behavior by spending less for other expenses so as to keep his overall expenses within his budget. In other words, Jake should have a scale of preference to determine his expenses. Secondly, Jake

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