patient-visits as its measure of activity. The clinic has provided the 19. Coody Clinic uses patient-visits as it following report: Coody Clinic Comparison of Actual Results to Planning Budget For the Month Ended July 31 (2) (3) Actual Planning Flexible Results Budget Budget (1) 2,000 2,300 $76,110 $83.720 43,240 44,320 13,990 16,280 Patient-visits Revenue ($36.409) Expenses: Personnel expenses ($20,400 + $10.409) Medical supplies ($1,100 + $6.60) Occupancy expenses ($6,400+ $1.500) Administrative expenses ($2,400+ $0.40) Total expense Net operating income Required: 9,800 9,850 3.080 3,320 70,110 73.770 $6,000 $9,950 1. Prepare a flexible budget above in the column (1). 2. Calculate spending and revenue variances in the column (2). 3. Label each variance as favorable (F) or unfavorable (U) in the column (3)