1. Calculate absolute variance from budget
| Category | Month | Budgeted | Actual | Variance |
| Groceries | Jan | 400 | 385 | -15 |
| Utilities | Jan | 150 | 162 | 12 |
| Entertainment | Jan | 100 | 95 | -5 |
| Groceries | Feb | 400 | 420 | 20 |
| Utilities | Feb | 150 | 148 | -2 |
| Entertainment | Feb | 100 | 115 | 15 |
=ABS(E2)Result: 15
The variance in E2 is -15, indicating $15 under budget. ABS removes the negative sign to show the absolute magnitude of 15, making it easy to see how far actual spending was from budget regardless of direction.