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Mmha 6400 Week 9 Assignment — Budgeting And Variance Analysis

Question

Instructions: 

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                                  $66,000                                             $77,500

Fixed Overhead Costs                   $808,000                                           $880,000

Using an Excel spreadsheet to show your calculations:

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

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

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

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

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

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

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

Solution

Title: Mmha 6400 Week 9 Assignment — Budgeting And Variance Analysis
Length: 9 pages (1200 Words)
Style: APA

Preview

Volume variance:
Budgeted Surgical volume2,500
Surgery Revenue600,500
Budgeted Revenue per Surgery240
Actual Surgical volume2,700
Actual Surgical revenue on budgeted rate648,540
Volume variance48,040
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