Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i always thumbs up! A local medical clinic measures their activity on the number of patient-visits. Information for how monthly budgets are built is set

i always thumbs up!
image text in transcribed
image text in transcribed
A local medical clinic measures their activity on the number of patient-visits. Information for how monthly budgets are built is set forth below. Revenue should be $66.90 per patient-visit Employee expenses should be $36,800 per month plus $16.90 per patient-visit. Medical supplies should be $3,100 per month plus $12.30 per patient-visit . Occupancy expenses should be $9,500 per month plus $7.50 per patient-visit. Administrative expenses should be $5,000 per month plus $5.60 per patient-visit. The clinic reported the following actual results for November Patient.visits Revenue Personnel expenses Medical supplies Occupancy expenses ndosinistrative expenses 2,910 $219,240 $ 93,320 $ 43,440 $ 22,550 $ 12,950 Required: Prepare a report showing the clinic's revenue and spending variances for November. Label each variance as favorable (F) on unfavorable (U). (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Prepare a report showing the clinic's revenue and spending variances for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance), Input all amounts as positive values.) Revenue and Spending Variances Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Flexible Actual Results Budget Patient-visits 2,910 2,910 Revenue Expenses: Personnel expenses Medical supplies Occupancy expenses Administrative expenses Total expense Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Working Papers Tools For Business Decision Making

Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso

6th Edition

0470887931, 978-0470887936

More Books

Students also viewed these Accounting questions

Question

Describe your ideal working day.

Answered: 1 week ago