Gapenski 6th ed p8.1Consideer the following 2015 data for Newark general Hospital in millions.

static flex actual

Revenues 4.7 4.8 4.5

Costs 4.1 4.1 4.2

profits 0.6 0.7 0.3

Calculate the profit, cost and rev variance

Volume and price variance on revenue side

vol and mgt variance on cost side

how are they related