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1. calculate and interpret the profit variance. 2. Calculate and interpret the revenue variance. 3. Calculate and interpret the cost variance. 4. Calculate and interpret

1. calculate and interpret the profit variance.

2. Calculate and interpret the revenue variance.

3. Calculate and interpret the cost variance.

4. Calculate and interpret the volume and price variances on the revenue side.

5. Calculate and interpret the volume and management variances on the cost side.

6. How are the variances calculated above related? image text in transcribed

8.1. Consider the following 2020 data for Newark General Hospital (in millions of dollars)

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