Coody Clinic uses patient visits as its measure of activity for budgeting purposes. The clinic has provided you with the following report regarding its activity for the month ending July 31.

Coody Clinic

Comparison of Actual Results to Planning Budget

Month Ended July 31

Budgeted $ Amounts

Budget Items

Variable (per patent)

Fixed (per month)

Actual Results

Planning Budget

Variances

Patient Visits

2,000

2,300

Revenue

$36.40

$-

$76,110

$83,720

7,610

U

Expenses

Personnel expenses

10.40

20,400

43,240

44,320

1,080

F

Medical supplies

6.60

1,100

13,990

16,280

2,290

F

Occupancy expenses

1.50

6,400

9,800

9,850

50

F

Administrative expenses

0.40

2,400

3,080

3,320

240

F

Total expenses

70,110

73,770

3,660

F

Net operating income

$6,000

$9,950

$3,950

U

Required:

Using the template on the Problem 1 Answer Sheet tab, prepare a Flexible Budget Performance Report like the one shown in Exhibit 9-8 in the textbook. First prepare a flexible budget, and then use that flexible budget to identify the volume variances and the spending variances. Ener formulas into the apporpriate cells to compute the dollar amounts of the variances, and be sure the variances all display as positive numbers. Finally, use the drop-down boxes provided in the template to label each variance as either F (favorable) or U (unfavorable).

Remember: The answer sheet can only contain formulas and links, not numbers.

Coody Clinic
Flexible Budget Performance Report
Month Ended July 31
Budget Items	Actual Results	Revenue and Spending Variances		Flexible Budget	Activity Variances		Planning Budget
Patient Visits
Revenue
Expenses
Personnel expenses
Medical supplies
Occupancy expenses
Administrative expenses
Total expenses
Net operating income