8.4 Refer to Carroll Clinics 2011 operating budget contained in Exhibit 8.3. Instead of the actual results reported in Exhibit 8.4, assume reported below: A). Construct Carrolls Flexible budget for 2011. B). what are the profit variance, revenue variance, and cost variance? C). Consider the revenue variance. What is the component volume variance? The price variance? D). Break down the cost variance into volume and management components. E). Break down the management variance into labor, supplies, and fixed costs variances. F). Interpret your results. In particular, focus on the differences between the variances analysis here and the Carroll Clinic illustration presented in the Chapter. 8.4 Refer to Carroll Clinics 2011 operating budget contained in Exhibit 8.3. Instead of the actual results reported in Exhibit 8.4, assume reported below: A). Construct Carrolls Flexible budget for 2011. B). what are the profit variance, revenue variance, and cost variance? C). Consider the revenue variance. What is the component volume variance? The price variance? D). Break down the cost variance into volume and management components. E). Break down the management variance into labor, supplies, and fixed costs variances. F). Interpret your results. In particular, focus on the differences between the variances analysis here and the Carroll Clinic illustration presented in the Chapter. 8.4 Refer to Carroll Clinics 2011 operating budget contained in Exhibit 8.3. Instead of the actual results reported in Exhibit 8.4, assume reported below: A). Construct Carrolls Flexible budget for 2011. B). what are the profit variance, revenue variance, and cost variance? C). Consider the revenue variance. What is the component volume variance? The price variance? D). Break down the cost variance into volume and management components. E). Break down the management variance into labor, supplies, and fixed costs variances. F). Interpret your results. In particular, focus on the differences between the variances analysis here and the Carroll Clinic illustration presented in the Chapter.