Question
Consider the following 2012 data for Newark General Hospital (in millions of dollars). Static Budget Flexible Budget Actual Results Revenue $4.70 $4.80 $4.50 Costs ($4.10)
Consider the following 2012 data for Newark General Hospital (in millions of dollars).
| Static Budget | Flexible Budget | Actual Results | |
| Revenue | $4.70 | $4.80 | $4.50 |
| Costs | ($4.10) | ($4.10) | ($4.20) |
| Profits | $0.60 | $0.70 | $0.30 |
a. Calculate and interpret the two profit variances.
b. Calculate and interpret the two revenue variances.
c. Calculate and interpret the two cost variances.
d. How are the variances related?
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Public Finance Lessons From The Past And Effects On The Future
Authors: Miguel-Angel Galindo Martin
1st Edition
1629481491, 978-1629481494
