$8\mathrm{.}5.$Instead of the results in problem $8\mathrm{.}4,$ consider the results reported below: Carroll Clinic: New $2020$ Results I. Volume: A$.$ FFS $34,000$ visits B$.$ Capitated lives $31,000$ members Number of member$-$months $372,000$ Actual utilization per member$-$month $0\mathrm{.}11613$ Number of visits $43,200$ visits C$.$ Total actual visits $77,200$ visits II$.$ Revenues: A$.$ FFS $ $28$ per visit $\backslash$times $34,000$ $ $952,000$ actual visits B$.$ Capitated lives $ $2\mathrm{.}75$ PMPM $\backslash$times $372,000$ actual member$-$months $$1,023,000$ C$.$ Total actual revenues $$1,975,000$ III. Costs: A$.$ Variable Costs: Labor $$1,242,000(46,000$ hours at $$27/$hour$)$ Supplies $126,000(90,000$ units at $$1\mathrm{.}40/$unit$)$ Total variable costs $$1,368,000$ Variable cost per visit $ $17\mathrm{.}72($$$1,368,000-$: $77,200)$ B$.$ Fixed Costs: Overhead, plant, and equipment $ $525,000$ C$.$ Total actual costs $$1,893,000$ IV$.$ Profit and Loss Statement: Revenues: FFS $ $952,000$ Capitated $1,023,000$ Total $$1,975,000$ Costs: Variable: FFS $ $602,487$ Capitated $765,513$ Total $$1,368,000$ Contribution margin $ $607,000$ Fixed costs $525,000$ Actual profit $ $82,000$ Assume the results reported in problem $8\mathrm{.}4$ hold, except that a difference existed among budgeted $($static$)$ enrollment and realized enrollment. The corrected results are presented above. Construct Carroll$$s flexible budgets for $2020.($Hint: Because of a change in enrollment, creating three flexible budgets is necessary. See the note to exhibit $8\mathrm{.}7.)$ What are the profit variance, revenue variance, and cost variance? Focus on the revenue side. What is the volume variance? The price variance? Break the volume variance into enrollment and utilization components. How does your answer here differ from your corresponding answer to problem $8\mathrm{.}4?$ Now consider the cost side. What are the volume and management variances? Break down the management variance into labor, supplies, and fixed costs variances. Interpret your results. In particular, focus on the differences between the variance analysis here and the one in problem $8\mathrm{.}4.$