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Performance Report example Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $55.90 per patient-visit. Personnel expenses should be $35.700 per month plus $15.80 per patient-visit Medical supplies should be $2,000 per month plus $11.20 per patient-visit. Occupancy expenses should be $8,400 per month plus $2.00 per patient-visit Administrative expenses should be $3,900 per month plus $0.10 per patient-visit The clinic reported the following actual results for November Patient-visits Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses $ 2.800 $164.240 $ 82,320 $ 34,640 $ 13,750 $ 4,150 Required: Prepare a report showing the clinic's revenue and spending variances for November Label each variance as favorable (F) or unfavorable (U). Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Actual Results Flexible Budget Revenue and Spending Variances 2,800 2,800 $164.240 $ 156,520 $ 7720 F Patient-visits (d) Revenue ($55.900 Expenses: Personnel expenses ($35,700 + $15.80q) Medical supplies ($2,000 $1L200) Occupancy expenses ($8.400 + $2.000) Administrative expenses ($3,900 + $0.100) Total expense Net operating income 82,320 34,640 13.750 4,150 134,860 $ 29,380 79.940 33,360 14,000 4,180 131.480 $ 25,040 2,380 V 1,280 U 250 F 30 F 3,380 V $ 4,340 F