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Dancin Donuts, established in January 2019, is a thriving new business specializing in low-carb donuts. The 2019 keto diet fad led to increased sales, and the chief financial officer (CFO) prepared a robust budget for 2020. In early March 2020, the small business had record-breaking sales but abruptly needed to shut its doors because of the global pandemic. The CFO conducted the following analysis for the month of March:

Dancin' Donuts March 2020
					Budget	Actuals	$ Var	%
	Total Revenue				200,000	196,947	-3,053	-2%
	Total Cost of Goods Sold				100,000	98,000	-2,000	-2%
	GROSS PROFIT				100,000	98,947	-1,053	-1%
	Total Expense				75,000	72,000	-3,000	-4%
		Total Interest Income			200	100	-100	-50%
		Total Other Expense			1,000	1,000	0	0%
					-800	-900	-100	13%
Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA)					24,200	26,047	1,847	8%
		Total Interest Expense			6,400	6,385	-15	0%
		Total Depreciation & Amortization			10,000	10,000	0	0%
Earnings Before Taxes (EBT)					7,800	9,662	1,862	24%
		Total Income Taxes (30%)			2,340	2,899	559	24%
Net Income					5,460	6,764	1,304	24%

1. What does an AVB stand for?
2. What is the total revenue for March 2020 when compared to the budget?
3. What is the variance from the budget in the net income for the month?
4. What is the income tax percentage for the month?

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