Question
The following are the planned and actual revenues for the MHA Medical Center. Givens: Planned budget Actual budget Patient volume 42,000 45,000 Patient revenues $12,600,000
The following are the planned and actual revenues for the MHA Medical Center.
Givens:
|
| Planned budget | Actual budget |
| Patient volume | 42,000 | 45,000 |
| Patient revenues | $12,600,000 | $15,300,000 |
| Revenue per visit | $300 | $340 |
Determine the variances between the planned and actual budgets
| Show your calculation:
|
Determine what variance is due to change in volume and what variance is due to change in rates.
| Show your calculation:
|
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