Styles Pane Dictate Sense 3. The following budget of The Bronx Surgery Center reflects the most recent historical quarter (in thousands of dollars): Simple Flexible Actual Number of Surgery 1,200 1,300 1,300 Patient Revenue $3,400 $3,600 $3,535 $1,200 $1,300 $1,365 Salary Expense Non-salary Expense - Profit $800 $850 $785 $800 $650 $785 The center assumes that all revenues and cost are variable and hence tied directly to patient volume. a. Explain how each amount in the flexible budget was calculated. (hint: examine the simple budget to determine the relationship of each budget line to volume. b. Determines the variance for each line of the P&L statement, both in dollar terms and percentage terms. c. What do the results in part b tell The Bronx Surgery Center's managers about the center's operations for quarter? AL Times New... 11 - A A Ao B 1 Uvex X ADA A. V Styles Styles Pane Dictate $ 1. What is variance analysis and why is this important for you to understand? Please be very specific and concise in your answer. 2. Consider the following 2021 data for Mercy Hospital (in millions of dollars): 1 Simple Flexible Actual Budget Budget Results Revenues $5.7 $5.8 $5.5 Cost 5.1 5.1 5.2 Profit 0.7 0.8 0.3 a. Calculate and interpret the two profit variances. b. Calculate and interpret the two revenue variances. c. Calculate and interpret the two cost variances. d. How are variances related