Expense Forecasting Based on the information provided, prepare an expense forecast for 20X1 using the template below: Spending during January- June 20X1 (6 months) Fixed expense items: $210,000 Variable expense items: $1,200,000 One time expense: $50,000 of fixed expense money was spent on preparing for a Joint Commission survey Procedures preformed during January- June 20X1 (6 months) Your department has performed 20,000 procedures during the first six months On November 1,20X1, two new procedure technicians will begin work. The salary and fringe benefit costs for each is: $96,000 yearly Description Fixed Variable TOTAL Year to Date Expense Adjustments Add back "One Time" credits Deduct "one Time" expenses Adjusted total for year to date expense Annualization Divide by months (fixed) 6 Multiple by months (fixed) 12 Divide by volume 20,000 Multiply by volume 40,000 Annualized Amounts Adjustments Add back "One Time" expenses Deduct "One Time" credits Expense two new technicians Expense Forecast as of 12/31/X1 Calculations: Annualization for Fixed:(Adjusted Total for Year to Date Expense/6) * 12 =Total Annualized Amounts Annualization for Variable (Adjusted Total for Year to Date Expense/ 20,000) * 40,000 =Total Annualized Amounts