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Determine the service-related variance for surgical volume

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Reference no: EM132472132

The following are budgeted and actual revenues and expenses for a hospital.

 

Budgeted

Actual

Revenues

 

 

Surgical Volume

2,500

2,700

Gift Shop Revenues

$19,000

$20,000

Surgery Revenues

$600,500

$850,750

Parking Revenues

$16,000

$18,000

Expenses

 

 

Patients Days

27,000

27,000

Pharmacy

$120,000

$160,000

Misc Supplies

566,000

$77,500

Fixed Overhead Costs

$808,000

$880,000

Question 1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?

Question 2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?

Question 3. Determine the service-related variance for Surgical Volume.

Question 4. Determine the service related variance for Patient Days.

Question 5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.

Question 6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual Patient Expenses.

Question 7. Determine what variances are due to change in volume and what variances are due to change in rates.

Reference no: EM132472132

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