1. Which type of budget (statistics, revenue, expense, operating) explicitly includes volume projections in terms of visits, admissions, etc? 2. Which type of budget (statistics, revenue, expense, operating) directly estimates expected profit/loss for a given budget period? 3. Which type of budget (static, flexible, actual) incorporates changes in actual volume of service realized for a given budget period? 4. 5. 6. Interpret the meaning of a profit variance of -$50,000 (negative). Interpret the meaning of a revenue variance of $100,000 (positive). Identify two factors that could contribute to a negative profit variance. 7. What is the purpose of variance analysis as it relates to the organizational budgeting process?