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Determine variances between the visits and clinic revenues

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Problem - Hoosier Hospital built a Primary Care Clinic in 2016 and wants to review its revenue variance at the end of 2016 and compare it to budget. Per the givens below, answer the following questions:

 

Planned

Actual

Visits

10,000

9,400

Clinic Revenues

$210,000

$169,200

Required -

a) Determine the variances between the visits and the clinic revenues for planned and actual budgets. Label each as favorable or unfavorable.

b) Create a flexible budget for revenue based on ACTUAL visits:

1. For the planned budget how much is revenue per visit?

2. How much revenue should we expect for the ACTUAL number of visits for our flexible budget?

3. How much was the ACTUAL revenue per visit rate VARIANCE? Was this favorable or unfavorable? Show the difference.

Reference no: EM132755207

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