Budget vs Actual Worksheet You are responsible for completing a budget for an Ambulatory Clinic. Here are the assumptions: INITIAL BUDGET a. The budget anticipated 65,000 Inpatient days this year at an average of $960 per day. b. Inpatient expenses were budgeted at $850 per day. c. The budget anticipated 27,000 outpatient visits this year at an average of $675 revenue per visit. d. Outpatient expenses were budgeted at $520 per visit. ACTUAL RESULTS 2010 a. Assume that only 56,550 or 87% of the inpatient days are going to actually be achieved for the year. b. The average revenue of $960 per day will be achieved for these 56,550 inpatient days. c. The Outpatient visits will actually amount to 120% of budget or 30,240 for the year. d. The average revenue of $475 per visit will be achieved for these 30,240 visits. e. Actual inpatient expenses will amount to $14,600,000 and actual outpatient expenses will amount to $5,220,000. REQUIRED: A. Prepare the budget and the actual on the attached worksheet. AS BUDGETED Revenue - Inpatient Revenue - Outpatient Subtotal 10 21 22 Expenses - Inpatient Expenses - Outpatient Subtotal 15. Excess of Revenue over Expenses 26 17 ACTUAL 19 20 Revenue - Inpatient Revenue - Outpatient 23 Subtotal 24 Expenses - Inpatient Expenses - Outpatient DINOT 27 28 Subtotal 29 Excess of Revenue over Expenses 30 31 32