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Analyze the table below and explain your findings of the given the calculations for the volume and cost variances for a physician practice based on
Analyze the table below and explain your findings of the given the calculations for the volume and cost variances for a physician practice based on the first six months of the fiscal year.
| 2022 YTD | 2022 YTD | |||||
| Actual | Budget | $ Variance | % Variance | Volume | Cost | |
| Salaries & wages | $144,000 | $142,000 | $2,000 | 1.4% | ($1,138) | $3,138 |
| Fringe benefits | 36,500 | 33,000 | $3,500 | 10.6% | (265) | 3,765 |
| Supplies | 18,750 | 19,500 | ($750) | -3.8% | (156) | (594) |
| Rent | 12,360 | 12,360 | $0 | 0.0% | 0 | 0 |
| Malpractice | 6,300 | 6,300 | $0 | 0.0% | 0 | 0 |
| Other | 22,680 | 22,050 | $630 | 2.9% | (177) | 807 |
| Total expenses | $240,590 | $235,210 | $5,380 | 11.0% | ($1,736) | $7,116 |
| Patient visits | 2,599 | 2,620 | (21) | -0.8% |
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Electronic Commerce
Authors: Gary Schneider
12th Edition
9781305867819
