Question

The overtime budget for the laboratory is $38,773, but $50,419 has already been spent. What percent over budget does this represent?

A. 30%
B. 70%
C. 77%
D. 100%

Answer 1

A. 30%. To find the percent over budget, subtract the budgeted amount from the amount spent and then calculate the percentage of this difference in relation to the budgeted amount. In this case, the percent over budget is 30%.

Step-by-step explanation:

To find the percent over budget, we need to calculate the difference between the budgeted amount and the amount spent, and then determine what percentage this difference represents of the budgeted amount.

Budgeted amount = $38,773
Amount spent = $50,419
Difference = Amount spent - Budgeted amount = $50,419 - $38,773 = $11,646
Percent over budget = (Difference / Budgeted amount) * 100 = ($11,646 / $38,773) * 100 = 30%