Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665600c01f6e2_320665600c011621.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665600c08f435_320665600c084deb.jpg)
Transcribed Image Text:
Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $70.90 per patient-visit. Personnel expenses should be $37,200 per month plus $17.30 per patient-visit. Medical supplies should be $3,500 per month plus $12.70 per patient-visit. Occupancy expenses should be $9,900 per month plus $9.50 per patient-visit. Administrative expenses should be $5,400 per month plus $7.60 per patient-visit. The clinic reported the following actual results for November. Patient-visits Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses Required: 2,950 $ 239,240 $ 97,320 $ 46,640 $ 25,750 $ 16,150 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 (ie., zero variance). Input all amounts as positive values.) Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Patient-visits Revenue Expenses: Personnel expenses Medical supplies Actual Results Flexible Budget Revenue and Spending Variances 2,950 2,950 Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $70.90 per patient-visit. Personnel expenses should be $37,200 per month plus $17.30 per patient-visit. Medical supplies should be $3,500 per month plus $12.70 per patient-visit. Occupancy expenses should be $9,900 per month plus $9.50 per patient-visit. Administrative expenses should be $5,400 per month plus $7.60 per patient-visit. The clinic reported the following actual results for November. Patient-visits Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses Required: 2,950 $ 239,240 $ 97,320 $ 46,640 $ 25,750 $ 16,150 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 (ie., zero variance). Input all amounts as positive values.) Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Patient-visits Revenue Expenses: Personnel expenses Medical supplies Actual Results Flexible Budget Revenue and Spending Variances 2,950 2,950
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
If a firm anticipates financing a project with a capital mix different than its current capital structure, describe in realistic terms how the firm is subjecting itself to a calculation error if its...
-
Compare and contrast the relative strengths and weaknesses of the partnership and the public limited company.
-
What is a balance sheet? Does the balance sheet tell us how much the business is worth?
-
On January 1, 2013, Hi and Lois Company purchased 13% bonds, having a maturity value of $510,100, for $568,109.95. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2013,...
-
The balance of payments is ______________
-
Which of the following are contracts? It doesn't need to be a specific contract. Just to identify if this is or can be a contract of any kind. If not, please explain which element(s) is defective....
-
The State of Confusion Legislature passes the following statute: "The State Health Commissioner, when in their opinion, there is sufficient covid - 1 9 vaccine that has been approved by the Federal...
-
Case 1 Baum Co. has two processing departments: Fabrication and Assembly. In the Fabrication Department, metal is cut and formed into various components, which are then transferred to Assembly. The...
-
Your earlier Personal Leadership Assessment, you looked at two areas of your leadership experience, those who led you and those you led. You will again address these two items in your Personal...
-
What is required in this situation: Content slides explaining the qualitative and quantitative steps necessary in conducting a sensitivity analysis. How can a project's risk be incorporated into a...
-
What is "marketing"? What is the difference between "marketing" and the "marketing process"?is it different in your home country vs. North america? Q2. What is the difference between "demand",...
-
How, in general terms, does Raworth propose that social foundations be achieved without exceeding planetary boundaries (i.e., how we can stay within the "dough" part of the doughnut". What does...
-
Reconstructing events when using the allowance method. Selected data from the accounts of Seward Corporation appear below. January 1 December 31 Accounts Receivable Gross $82,900 Dr. $ 87,300 Dr....
-
Aging accounts receivable. York Company's accounts receivable show the following balances: Age of Accounts Balance Receivable 0-30 Days $1,200,000 31-60 Days 255,000 61-120 Days 75,000 More than 120...
-
Allowance method for uncollectible accounts. Diversified Technologies opened for business on January 2, Year 1. Sales on accounts during Year 1 totaled $126,900. Collections from customers from sales...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App