To calculate the Budget Percentage (\(B\)):
\[ B = \frac{PB - AB}{PB} \times 100 \]
Where:
A budget percent, or percentage, is defined as a measure of how much over or under budget a certain project was, relative to the planned budget.
Let's assume the following values:
Using the formula:
\[ B = \frac{10000 - 8000}{10000} \times 100 = 20\% \]
The budget percentage is 20%, indicating the project is 20% under budget.
Let's assume the following values:
Using the formula:
\[ B = \frac{15000 - 18000}{15000} \times 100 = -20\% \]
The budget percentage is -20%, indicating the project is 20% over budget.
