Financial Planning and Budgeting

When calculating the flexible budget, we will use the actual volume but the budget rates. Based on this information, calculate the flexible budget for revenue. Hoover Clinic's actual and budget information for 2019 is listed below, we will use this to calculate the flexible budget. Total FFS Visit Volume Budgeted FFS Visit Volume 100,000 visits 80,000 visits Payer Mix Budgeted: Blue Cross Highmark 40% 60% Payer Mix Actual Blue Cross Highmark 40% 60% Reimbursement Rates Budgeted: Blue Cross Highmark $25 per visit $20 per visit Reimbursement Rates Actual: Blue Cross Highmark $28 per visit $18 per visit Variable Costs Resource Inputs Budget Labor Supplies Resource Input Prices Budgeted: Labor Supplies 40,000 100,000 total hours total units $ $ 25.00 1.50 per hour per unit Variable Costs Resource Inputs Actual: Labor Supplies Resource Input Prices Actual: Labor Supplies 50,000 150,000 total hours total units $ $ 28.00 1.50 per hour per unit Fixed Costs (overhead, plant and equipment) $ 500,000.00 When calculating the flexible budget, we will use the actual volume but the budget rates. Based on this information, calculate the flexible budget for total costs (include the fixed proportion)