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Dear Tutor,
In a real life scenario, if we are preparing variance report on a monthly basis and we are about to prepare it for month of April’17 in the begining of May’17. We will compare the budgeted expenditure with actual. However, suppose we have electricity bill which we will get quarterly. Then how do we determine the actual electricity expenses for the month of April as we don’t have the bill yet? Do we go with an estimated amount?
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