Problem 2 Lucy's One Service Clinic uses patients served as its measure of activity (q). The...

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Problem 2 Lucy's One Service Clinic uses patients served as its measure of activity (q). The following report compares the planning budget to the actual operating results for the month of June: Lucy's One Service Clinic Comparison of Planning Budget to Actuals For the Month Ended June 30 Planning Actual Budget Results Variances Patients served 1,000 1,100 Revenues ($25q) 25,000 27,500 2,500 F Expenses: Wages and salaries ($4,000+ $2.50q).. 6,500 7,600 1,100 U Medical supplies ($1.20q) 1,200 1,300 100 U Insurance ($2,000) 2,000 2,200 200 U Other expenses ($2,000+ $0.60q) 2,600 2,500 100 F Total expenses 12,300 13,600 1,300 Net operating income 12,700 13,900 1,200 Required: Prepare a performance report that has the activity variances and revenue and spending variances for May. Label each variance as favorable (F) or unfavorable (U). I Problem 2 Lucy's One Service Clinic uses patients served as its measure of activity (q). The following report compares the planning budget to the actual operating results for the month of June: Lucy's One Service Clinic Comparison of Planning Budget to Actuals For the Month Ended June 30 Planning Actual Budget Results Variances Patients served 1,000 1,100 Revenues ($25q) 25,000 27,500 2,500 F Expenses: Wages and salaries ($4,000+ $2.50q).. 6,500 7,600 1,100 U Medical supplies ($1.20q) 1,200 1,300 100 U Insurance ($2,000) 2,000 2,200 200 U Other expenses ($2,000+ $0.60q) 2,600 2,500 100 F Total expenses 12,300 13,600 1,300 Net operating income 12,700 13,900 1,200 Required: Prepare a performance report that has the activity variances and revenue and spending variances for May. Label each variance as favorable (F) or unfavorable (U). I