I really need assistance with this assignment. THank you!!!

Healthcare Financial Management and Economics Week 9 Assignment Budgeting and Variance Analysis Instructions: The following are budgeted and actual revenues and expenses for a hospital. Budgeted Actual Revenues Surgical Volume 2,500 2,800 Gift Shop Revenues $18,500 $21,200 Surgery Revenues $592,600 $862,000 Parking Revenues $18,500 $21,600 Patients Days 28,000 26,000 Pharmacy $120,500 $145,000 Misc Supplies $695,000 $795,000 Fixed Overhead Costs $836,000 $885,000 Expenses Using an Excel spreadsheet to show your calculations: 1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? 2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable? 3. Determine the service-related variance for Surgical Volume. 4. Determine the service-related variance for Patient Days. 5. Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Surgical Revenues. 6. Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Patient Expenses. 7. Determine what variances are due to change in volume and what variances are due to change in rates. 2015 Laureate Education, Inc. Page 1 of 1 Revenues [A] [B] [C] [D] Givens: Surgical volume Gift shop revenues Surgery revenues Parking revenues Budgeted Actual 1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? Budgeted Actual Variance [E] Surgical volume [A] [F] Gift shop revenues [B] [G] Surgery revenues [C] [H] Parking revenues [D] [I] Total variance [E] 3. Determine the service related variance for Surgical Volume. Variance [J] [K] [L] [M] Total variance [I] Gift shop revenue variance [F] Parking revenue variance [H] Service-related variance [J-K-L] 5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual surgical revenues. Budgeted Flexible Actual [N] Surgical volume [A] [O] Surgical revenue per unit [C / A] [P] Surgical revenue [C] 7. Determine what variances are due to change in volume and what variances are due to change in rates. Budgeted [Q] [R] [S] [T] [U] Budgeted surgical revenue [P] Flexible surgical revenue [P] Actual surgical revenue [P] Volume variance [R - Q] Rate variance [S - R] Flexible Actual Expenses [A] [B] [C] [D] ume. Is the variance Givens: Patient days Pharmacy Miscellaneous supplies Fixed overhead costs Budgeted Actual 2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance fa unfavorable? [E] [F] [G] [H] [I] Patient days [A] Pharmacy [B] Miscellaneous supplies [C] Fixed overhead costs [D] Total variance 4. Determine the service related variance for Patient Days. [J] [K] [L] [M] te, and the actual change in rates. Variance Total variance [I] Amt. explained by fixed overhead [F] Other fixed expenses Service-related variance [J-K-L] 6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual p expenses. Budgeted Flexible [N] Patient days [A] [O] Cost per patient day (Pharm + Misc) [B+C]/[A] [P] Total cost (Pharm+Misc) [N x O] nt Days. Is the variance favorable or Variance Variance estimate, and the actual patient Actual