Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chirico Clinic uses client-visits as its measure of activity. During February, the clinic budgeted for 2,500 client-visits, but its actual level of activity was 2,550

image text in transcribed
Chirico Clinic uses client-visits as its measure of activity. During February, the clinic budgeted for 2,500 client-visits, but its actual level of activity was 2,550 client visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for February: Data used in budgeting: Fixed element per month Variable element per client-visit $52.30 Revenue Personnel expenses Medical supplies Occupancy expenses... Administrative expenses..... Total expenses $29.600 1,300 8,200 6.000 $45.100 $15.50 9.10 2.50 0.40 $2750 Actual results for February Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses....... $138.875 $70,015 $24.335 $14.655 $6,880 The personnel expenses in the planning budget for February would be closest to: $68,642 $70,015 $68,350 $69,125

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

IFRS edition volume 2

978-0470613474, 470613475, 978-0470616314

Students also viewed these Accounting questions