Names: TripleDouble Ine The following information is related to TripleDouble, Inc.'s budgets and actual performance for the last period. Accounting 285 Practice Set #8 Actual Results Planning Budget Flexible Budget Scard Clinic Revenue $296,500 $286.500 $ $299,800 101,360 Seard Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: COGS 99,680 101,480 78.421 82,400 80,100 58,960 59.ASO 61,300 Salaries and Wages Office Expenses Other Expenses Net Operating Income 49,000 49,210 44.185 $8,760 S6,980 Seard Clinic For the Month Fixed December 31 Planning Badect Actual Results Patient-visits 2,000 2.400 Revenue (S58.1(4) $116.210 $142.CINI Expense: Personnel expenses (S30,400+$17.40) 65.2001 74,250 Medical supplies (S1,31XH59.614) 20.500 24,670 Occupancy expeuse (59,000+51.909) 12.800 14.020 Administrative expenses (56,200-50.300) 6.8021 686 Total expense 105.300 119.800 Net operating income 51090 S1,114 1. How much is the Spending Variance for COGS? Is it favorable or unfavorable? Answer: $120 U) Prepare the clinic's flexible budget performance report for December. Lahel each variance as favorable (F) or unfavorable (U). 2. How much is the Revenue Spending Variance for Revenue? Is it favorable or unfavorable? (Answer: $13,300 U) Planning Budent Sead Clinic For the Month Ended December 31 Revenue and Activity Flexible Spending Vnriances Budget Varianos Varianos 3. How much is the Activity Variance for Office Expenses? Is it favorable or unfavorable? Answer: $890 U) Actual Results 2.400 S142.080 2,000 S116.200 65,200 74,250) 4. How much is the Spending Variance for Other Expenses? Is it favorable or unfavorable? (Ansv $5,025 FI 20.500 Patient-visits Revenue (558.100) Lexponse: Personnel expenses ($30,100+$17.404) Medical supplies ($1,200-$9.614) (locupancy expense ($9,000-$1.90) Administrative expenses (56,200-50.300) Tatal expense Net operating inoomne 24,670 12.800 14.020 6.800 105.301 $0.900 119.800) $22.280 5. How much is the Activity Variance for Salaries and Wages? Is it favorable or unfavorable? Answer: $2,300 U) Names: TripleDouble Ine The following information is related to TripleDouble, Inc.'s budgets and actual performance for the last period. Accounting 285 Practice Set #8 Actual Results Planning Budget Flexible Budget Scard Clinic Revenue $296,500 $286.500 $ $299,800 101,360 Seard Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: COGS 99,680 101,480 78.421 82,400 80,100 58,960 59.ASO 61,300 Salaries and Wages Office Expenses Other Expenses Net Operating Income 49,000 49,210 44.185 $8,760 S6,980 Seard Clinic For the Month Fixed December 31 Planning Badect Actual Results Patient-visits 2,000 2.400 Revenue (S58.1(4) $116.210 $142.CINI Expense: Personnel expenses (S30,400+$17.40) 65.2001 74,250 Medical supplies (S1,31XH59.614) 20.500 24,670 Occupancy expeuse (59,000+51.909) 12.800 14.020 Administrative expenses (56,200-50.300) 6.8021 686 Total expense 105.300 119.800 Net operating income 51090 S1,114 1. How much is the Spending Variance for COGS? Is it favorable or unfavorable? Answer: $120 U) Prepare the clinic's flexible budget performance report for December. Lahel each variance as favorable (F) or unfavorable (U). 2. How much is the Revenue Spending Variance for Revenue? Is it favorable or unfavorable? (Answer: $13,300 U) Planning Budent Sead Clinic For the Month Ended December 31 Revenue and Activity Flexible Spending Vnriances Budget Varianos Varianos 3. How much is the Activity Variance for Office Expenses? Is it favorable or unfavorable? Answer: $890 U) Actual Results 2.400 S142.080 2,000 S116.200 65,200 74,250) 4. How much is the Spending Variance for Other Expenses? Is it favorable or unfavorable? (Ansv $5,025 FI 20.500 Patient-visits Revenue (558.100) Lexponse: Personnel expenses ($30,100+$17.404) Medical supplies ($1,200-$9.614) (locupancy expense ($9,000-$1.90) Administrative expenses (56,200-50.300) Tatal expense Net operating inoomne 24,670 12.800 14.020 6.800 105.301 $0.900 119.800) $22.280 5. How much is the Activity Variance for Salaries and Wages? Is it favorable or unfavorable? Answer: $2,300 U)