Question

The net income for this year is $52,360. last year, net income was $50,040. what is the percentage variance in net income?

Answer 1

To find the percentage variance in the net income you'll first subtract the original amount in income from the increase amount.

$52,360-$50,040 = $2,320

Then you'll want to divide the increase of $2,320 by the original net income of $50,040. $2,320/$50,040 = .0463

The final step is to multiply that number by 100.
.0463 x 100 = 4.63%