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The following profit information was taken from Eastside Hospital's budget data: Simple budget: $1.2 million Flexible budget: $1 million Actual results: $500,000 What is the

The following profit information was taken from Eastside Hospital's budget data: Simple budget: $1.2 million Flexible budget: $1 million Actual results: $500,000

What is the simple variance? What is the flexible variance? (hint: an unfavorable variance is identified by a negative sign.)

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