Explain the three types of flexible budget variance

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1. Explain the three types of flexible budget variance and why it is important for every manager to understand these variables.

2. In one paragraph, present a practical application of Price Variance as a Manager. Use all appropriate formulae as necessary.

3. As the Manager of Walker Jones Memorial Hospital, you projected financial outcomes for 5 medical units in the hospital known for adding up to $ 30,000,000 all together of revenue to the hospital. The total cost of operating these units is $ 120,000 and a constant variable cost of $ 20,000. Consider that, at some point, each unit offered its regular patients lower medical costs of $ 30,000 off their bills. Calculate the Break-Even Number of Units.

4. From you answer above, prove that the operating income is 0 at break even.

5. As a manager, explain the implication of this outcome for the fiscal year.

Reference no: EM132296954

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