Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Consider the following three budgets for Minute Clinic during 2020: Static Budget Flexible Budget Actual Results 36,000 54,000 90,000 40,000 60,000 100,000 40,000 60,000

image text in transcribed
2. Consider the following three budgets for Minute Clinic during 2020: Static Budget Flexible Budget Actual Results 36,000 54,000 90,000 40,000 60,000 100,000 40,000 60,000 100,000 $ 900,000.00 $ 1,080,000.00 $ 1,980,000.00 $ 1,000,000.00 $ 1,200,000.00 $ 2,200,000.00 $ 1,120,000.00 $ 1,080,000.00 $ 2,200,000.00 Visits BCBS Patients Highmark Patients Total Patients Revenue BCBS Patients Highmark Patients Total Revenue Expenses Variable Labor Supplies Total Variable Fixed Total Expenses Contribution Margin Net Profit $ 1,200,000.00 $ 150,000.00 $ 1,350,000.00 $ 500,000.00 $ 1,850,000.00 $630,000.00 $ 1,333,333.33 $ 166,666.67 $1,500,000.00 $ 500,000.00 $ 2,000,000.00 $ 700,000.00 $ 1,400,000.00 $ 225,000.00 $ 1,625,000.00 $ 500,000.00 $ 2,125,000.00 $ 575,000.00 $ 130,000.00 $ 200,000.00 $ 75,000.00 > Calculate and provide an interpretation of the profit variance. Calculate and provide an interpretation of the revenue variance (total). Calculate and provide and interpretation of the cost/expense variance (total). Evaluate the overall budgetary performance for Minute Clinic in 2020. What factors (identify at least two) that contributed to this overall level of performance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Auditing

Authors: Hall, J Scott Harr

3rd Edition

1133008046, 978-1439079119

More Books

Students also viewed these Accounting questions

Question

Academy of Management Journal

Answered: 1 week ago

Question

Explain the key components of an assessment center (AC).

Answered: 1 week ago