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The anticipated average costs per patient and overhead expenses are listed in Tables 1 and 2 . Table 1: Forecasted V2024 Average Cost per Patient Table 2: Forecasted V2024 Overheads To manage its operations effectively and improve its financial health, THC is in the process of creating its budget and planning strategies for the near future, and they have sought your assistance in this endeavour. Your Tasks 1. Develop THC's 2024 annual budget, taking into account the provided costs and revenue projections. 2. Calculate THC's contribution margin and break-even point in units and dollars. Explain your calculations and the implications of these figures. 3. Develop a visual representation of the break-even point in units and dollars. THC is contemplating bidding for a state government contract to provide healthcare services to an additional 350 patients in 2024 . This strategic move could potentially bolster THC's patient volume and revenue, but it also brings a new set of considerations. The following assumptions were made: - Overheads will remain the same regardless of whether THC is successful with its tender. - The variable cost of treating the additional patients will be the same as the current patients. - The average fee of $1,800 per patient is maintained. The Tamar Health Centre (THC) is a trusted and reputable healthcare provider located in the neart of Hadley, Australia. It has long been committed to its vision of "Healthcare Excellence or All." Its mission, to provide comprehensive, high-quality health services and contribute to he overall well-being of the community it serves, is the driving force behind its operations. THC offers a broad range of health services, focusing on general practice and preventive care, along with wellness programs, to its community. As a part of the city's healthcare nfrastructure, THC serves a dual role, attending to the needs of the local population and oroviding care for tourists visiting Hadley. The following services are provided: General Practice: This is the foundation of THC's services. Experienced family physicians provide routine check-ups, diagnose a wide range of health issues, manage chronic diseases, and guide patients in their overall health journey. They focus on a holistic approach to treatment, taking into account both the physical and mental well-being of patients. Preventive Care: This aspect of THC's service focuses on preventing illnesses before they occur. Services include routine screenings to detect health issues at an early stage, vaccinations to protect against various diseases, lifestyle counselling to promote healthy behaviours, and regular check-ups to monitor patients' health status. Wellness Programs: THC places a significant emphasis on the promotion of overall wellbeing through its wellness programs. These involve health education workshops, fitness classes, dietary counselling, stress management courses, and other programs designed to encourage a healthy lifestyle. Hadley, renowned for its rich history, stunning waterfront, and exceptional quality of life, is also experiencing a period of steady growth. This growth, coupled with the ageing population and increased health consciousness among individuals, has led to growing demands for ealthcare services in the city. THC anticipates that it will render services to 950 patients in 2024. Each patient is expected to draw an average fee of $1,800 per annum, which helps to iustain the Centre's services. 4. Given the addition of 350 patients from the government contract, update the budget and visual representation. Discuss the impact of these changes on THC's financial position. 5. THC is considering bidding $380,000 in total for the government contract, instead of the regular fee of $1,800 per patient. Using the concept of break-even analysis, evaluate the viability of this decision. Explain your rationale and discuss potential financial and nonfinancial risks and benefits. 6. On a separate matter, THC is contemplating the acquisition of new equipment to enhance the quality and diversity of its services. Currently, they are deciding between three options: Equipment A, costing $120,000, has a projected lifespan of five years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $43,000 - Year 2:$45,000 - Year 3:\$41,000 - Year 4:\$39,000 - Year 5: $5,000 (note the negative symbol) Equipment B, costing $115,000, also has a projected lifespan of five years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $8,000 (note the negative symbol) - Year 2:$35,000 - Year 3:\$45,000 - Year 4:$63,000 - Year 5:\$65,000 Equipment C, costing $128,000, also has a projected lifespan of six years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $7,000 (note the negative symbol) - Year 2:$28,000 - Year 3:\$37,000 - Year 4:$45,000 - Year 5:\$59,000 - Year 6: $51,000 THC prefers projects that pay for themselves within three years and has a discount rate is 10\%. Determine the payback period (PP), net present value (NPV) and intemal rate of return (IRR) of each equipment. Recommend which equipment THC should invest in and provide a detailed rationale for your choice. Disclaimer: This assignment was inspired by a realistic budgeting scenaria. All characters, locations, revenue, and cost figures used were randomised to maintain confidentiality and anonymity. The anticipated average costs per patient and overhead expenses are listed in Tables 1 and 2 . Table 1: Forecasted V2024 Average Cost per Patient Table 2: Forecasted V2024 Overheads To manage its operations effectively and improve its financial health, THC is in the process of creating its budget and planning strategies for the near future, and they have sought your assistance in this endeavour. Your Tasks 1. Develop THC's 2024 annual budget, taking into account the provided costs and revenue projections. 2. Calculate THC's contribution margin and break-even point in units and dollars. Explain your calculations and the implications of these figures. 3. Develop a visual representation of the break-even point in units and dollars. THC is contemplating bidding for a state government contract to provide healthcare services to an additional 350 patients in 2024 . This strategic move could potentially bolster THC's patient volume and revenue, but it also brings a new set of considerations. The following assumptions were made: - Overheads will remain the same regardless of whether THC is successful with its tender. - The variable cost of treating the additional patients will be the same as the current patients. - The average fee of $1,800 per patient is maintained. The Tamar Health Centre (THC) is a trusted and reputable healthcare provider located in the neart of Hadley, Australia. It has long been committed to its vision of "Healthcare Excellence or All." Its mission, to provide comprehensive, high-quality health services and contribute to he overall well-being of the community it serves, is the driving force behind its operations. THC offers a broad range of health services, focusing on general practice and preventive care, along with wellness programs, to its community. As a part of the city's healthcare nfrastructure, THC serves a dual role, attending to the needs of the local population and oroviding care for tourists visiting Hadley. The following services are provided: General Practice: This is the foundation of THC's services. Experienced family physicians provide routine check-ups, diagnose a wide range of health issues, manage chronic diseases, and guide patients in their overall health journey. They focus on a holistic approach to treatment, taking into account both the physical and mental well-being of patients. Preventive Care: This aspect of THC's service focuses on preventing illnesses before they occur. Services include routine screenings to detect health issues at an early stage, vaccinations to protect against various diseases, lifestyle counselling to promote healthy behaviours, and regular check-ups to monitor patients' health status. Wellness Programs: THC places a significant emphasis on the promotion of overall wellbeing through its wellness programs. These involve health education workshops, fitness classes, dietary counselling, stress management courses, and other programs designed to encourage a healthy lifestyle. Hadley, renowned for its rich history, stunning waterfront, and exceptional quality of life, is also experiencing a period of steady growth. This growth, coupled with the ageing population and increased health consciousness among individuals, has led to growing demands for ealthcare services in the city. THC anticipates that it will render services to 950 patients in 2024. Each patient is expected to draw an average fee of $1,800 per annum, which helps to iustain the Centre's services. 4. Given the addition of 350 patients from the government contract, update the budget and visual representation. Discuss the impact of these changes on THC's financial position. 5. THC is considering bidding $380,000 in total for the government contract, instead of the regular fee of $1,800 per patient. Using the concept of break-even analysis, evaluate the viability of this decision. Explain your rationale and discuss potential financial and nonfinancial risks and benefits. 6. On a separate matter, THC is contemplating the acquisition of new equipment to enhance the quality and diversity of its services. Currently, they are deciding between three options: Equipment A, costing $120,000, has a projected lifespan of five years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $43,000 - Year 2:$45,000 - Year 3:\$41,000 - Year 4:\$39,000 - Year 5: $5,000 (note the negative symbol) Equipment B, costing $115,000, also has a projected lifespan of five years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $8,000 (note the negative symbol) - Year 2:$35,000 - Year 3:\$45,000 - Year 4:$63,000 - Year 5:\$65,000 Equipment C, costing $128,000, also has a projected lifespan of six years and no residual value. The expected net cash inflows from this equipment over the next five years are: - Year 1: $7,000 (note the negative symbol) - Year 2:$28,000 - Year 3:\$37,000 - Year 4:$45,000 - Year 5:\$59,000 - Year 6: $51,000 THC prefers projects that pay for themselves within three years and has a discount rate is 10\%. Determine the payback period (PP), net present value (NPV) and intemal rate of return (IRR) of each equipment. Recommend which equipment THC should invest in and provide a detailed rationale for your choice. Disclaimer: This assignment was inspired by a realistic budgeting scenaria. All characters, locations, revenue, and cost figures used were randomised to maintain confidentiality and anonymity