Fill out budget performance report and questions 1-5 (Showing all work).

Names: Accounting 285 Team Exercise #8 Seard Clinic Seard Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: Seard Clinic For the Month Ended December 31 Planning Budget Actual Results Patient-visits 2,000 2,400 Revenue ($58.109) $116,200 $142,080 Expense: Personnel expenses ($30,400+$17.409) 65,200 74,250 Medical supplies ($1,300-59.600) 20,500 24,670 Occupancy expense ($9,000-$1.904) 12,800 14,020 Administrative expenses ($6,200-50.30g) 6.800 6,860 Total expense 105.300 119,800 Net operating income $10.900 $22.280 Prepare the clinic's flexible budget performance report for December. Label each variance as favorable (F) or unfavorable (U). Seard Clinic For the Month Ended December 31 Revenue and Activity Flexible Variances Budget Spending Variances Actual Results Planning Budget 2,000 $116,200 Variances 2.400 $142,080 65,200 74,250 24.670 Patient-visits Revenue ($58.109) Expense: Personnel expenses ($30,400+$17.40) Medical supplies ($1,300-$9.609) Occupancy expense ($9,000-$1.909) Administrative expenses (56,200-50.300) Total expense Net operating income 20,500 12,800 14,020 6.800 105,300 $10.900 6.860 119.800 $22.280 TripleDouble, Inc The following information is related to TripleDouble, Inc.'s budgets and actual performance for the last period. Actual Results Planning Budget Flexible Budget Revenue $299,800 $286,500 $296,500 99,680 COGS 101,480 80,100 101,360 82,400 59,850 78.421 61,300 Salaries and Wages Office Expenses Other Expenses Net Operating Income 58,960 49,000 $8,760 49,210 44.185 $1,114 $6,980 1. How much is the Spending Variance for COGS? Is it favorable or unfavorable? (Answer: $120 U) 2. How much is the Revenue Spending Variance for Revenue? Is it favorable or unfavorable? (Answer: $13,300 U) 3. How much is the Activity Variance for Office Expenses? Is it favorable or unfavorable? (Answer: $890 U) 4. How much is the Spending Variance for Other Expenses? Is it favorable or unfavorable? (Answer: $5,025 F) 5. How much is the Activity Variance for Salaries and Wages? Is it favorable or unfavorable? (Answer: $2,300 U)