calculating % of a monthly budget on a daily basis

[DZ]

I have a monthly budget figure, and I'm trying to use a formula to show what
% of budget I'm at on a daily basis. For instance, my budget for the month is
that I'll make 800 items, and halfway through the month if my actuals show
I've made 400 items, I want the % of budget column to show 100%, not 50%.
How do I do this? Thanks in advance for your help.

 

[rzink]

DZ,

The answer depends on how you count the number of days in a month. Is this
based on actual days of the month or only workdays? Do you want to count
days based on a 365 day calendar or a 360 day year (30 days in each month)?

To get a simple estimate, you could multiply the current day of the month by
1/30 and mutiply that by your monthly goal. This gives you your Month to
Date (MTD) goal. Then Divide your current status by the MTD Goal.

If Today = 15 (ie. 3/15/10)
Goal = 800
Then =(15*(1/30)*800) = 400 (MTD Goal)
If current status = 500, then you are at 125% of goal MTD

Hope this helps.
rzink