Question
Expected patient visits for 2021 are indicated in the table below. 75% of the visits are expected to be half-hour appointments and the remainder will
Expected patient visits for 2021 are indicated in the table below. 75% of the visits are expected to be half-hour appointments and the remainder will be one hours visits: Expected Patients
January 2021 300
February 2021 350
March 2021 320
April 2021 300
May 2021 350
June 2021 370
July 2021 380
August 2021 400
September 2021 400
October 2021 400
November 2021 400
December 2021 400
The average fees received for the two (2) different types of appointments are $110 for half an hour (30 minutes) and $330 for one hour (60 minutes).
Additional information:
Salaries:
There are two orthodontists (one who is a graduate) and two assistant orthodontists. They are all paid an annual salary. It is estimated that their on-costs are 30% of their annual salary. They work 37.5 hours per week. Each appointment requires an orthodontist (lead or graduate) and an assistant. Each employees allowance for annual leave, public holidays and sick leave amounts to 8 weeks per year. They are also given an allowance for nonbillable time of 2 hours per week which includes professional development, department meetings and idle time.
Make a labour budget (including labour cost per appointment type).
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling
6th Canadian edition
73208140, 1259105695, 978-1259105692
