Hello, please assist me in solving the following questions so that I can figure out the formulas and logic behind them:

8.1) Consider the following 2015 data for Newark General Hospital (in millions of dollars):

Static budget flexible budget Actual Results

Revenues $4.7 $4.8 $4.5

Costs 4.1 4.1 4.2

Profits 0.6 0.7 0.3

a.) Calculate and interpret the profit variance:

b.)Calculate and interpret the revenue variance:

c.) Calculate and interpret the cost variancance:

d.) Calculate and interpret the volume and price variance on the revenue side:

c.) Caluclate and interpret the volume and management variances on the cost side:

F.) How are the variances calculated above related?

8.3) Here are the budgets of Brandon Surgery Center for the most recent historical quarter (in thousands of dollars):

Static Flexible Actual

Number of surgeries 1,200 1,300 1,300

Patient Revenue $2,400 $2,600 $2,535

Salary Expense 1,200 1,300 1,365

Nonsalary Expense 600 650 585

Profit $600 $650 $585

The Center assumes that all revenues and costs are variable and hence tied directly to patient volume,

A.) Explain how each amount in the flixible budget was calculated? (hint: examine the static budget to determine the relationship of each budget line to volume)