Refer to Problem 8.6. Chelsea Clinic's actual results for 2015 are shown in the table below. 100,000 visits 40% 60% Total FFS Visit Volume Payer Mix: Blue Cross Highmark Reimbursement Rates: Blue Cross Highmark Variable Costs Resource Inputs: Labor Supplies $28 per visit $18 per visit 50,000 total hours 150,000 total units (continued) (continued from previous page) Resource Input Prices: Labor Supplies Fixed Costs (overhead, plant, and equipment) $28.00 per hour $1.50 per unit $500,000 a. Construct Chelsea Clinic's flexible budget and actual operating results for 2015. b. What are the profit variance, revenue variance, and cost variance? c. Focus on the revenue side. What is the volume variance? The price variance? d. Now consider the cost side. What are the volume and management variances? Break down the management variance into labor, supplies, and fixed costs variances. Refer to Problem 8.6. Chelsea Clinic's actual results for 2015 are shown in the table below. 100,000 visits 40% 60% Total FFS Visit Volume Payer Mix: Blue Cross Highmark Reimbursement Rates: Blue Cross Highmark Variable Costs Resource Inputs: Labor Supplies $28 per visit $18 per visit 50,000 total hours 150,000 total units (continued) (continued from previous page) Resource Input Prices: Labor Supplies Fixed Costs (overhead, plant, and equipment) $28.00 per hour $1.50 per unit $500,000 a. Construct Chelsea Clinic's flexible budget and actual operating results for 2015. b. What are the profit variance, revenue variance, and cost variance? c. Focus on the revenue side. What is the volume variance? The price variance? d. Now consider the cost side. What are the volume and management variances? Break down the management variance into labor, supplies, and fixed costs variances