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Revenues [A] [B] [C] [D] Givens: Surgical volume Gift shop revenues Surgery revenues Parking revenues Budgeted 2,500 $19,000 $600,500 $16,000 Actual 2,700 $20,000 $850,750 $18,000 1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? Budgeted Actual Variance [E] Surgical volume [A] 2,500 2,700 200 [F] Gift shop revenues [B] $19,000 $20,000 $1,000 [G] Surgery revenues [C] $600,500 $850,750 $250,250 [H] Parking revenues [D] $16,000 $18,000 $2,000 [I] Total variance [E] $635,500 $888,750 $253,250 3. Determine the service related variance for Surgical Volume. [J] [K] [L] [M] Variance $253,250 $1,000 $2,000 $250,250 Total variance [I] Gift shop revenue variance [F] Parking revenue variance [H] Service-related variance [J-K-L] 5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual surgical revenues. Budgeted Flexible Actual [N] Surgical volume [A] 2,500 2,700 [O] Surgical revenue per unit [C / A] $240.20 [P] Surgical revenue [C] $600,500 $648,540 $850,750 7. Determine what variances are due to change in volume and what variances are due to change in rates. [Q] [R] [S] [T] [U] Budgeted surgical revenue [P] Flexible surgical revenue [P] Actual surgical revenue [P] Volume variance [R - Q] Rate variance [S - R] Budgeted $600,500 Flexible Actual $648,540 $850,750 Expenses [A] [B] [C] [D] ume. Is the variance Favorable Favorable Favorable Favorable Favorable Givens: Patient days Pharmacy Miscellaneous supplies Fixed overhead costs Budgeted 27,000 $120,000 $66,000 $808,000 Actual 27,000 $160,000 $77,500 $880,000 2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance fa unfavorable? [E] [F] [G] [H] [I] Patient days [A] Pharmacy [B] Miscellaneous supplies [C] Fixed overhead costs [D] Total variance 27,000 $120,000 $66,000 $808,000 $994,000 27,000 $160,000 $77,500 $880,000 $1,117,500 4. Determine the service related variance for Patient Days. [J] [K] [L] [M] te, and the actual change in rates. Variance $48,040 $202,210 Total variance [I] Amt. explained by fixed overhead [F] Other fixed expenses Service-related variance [J-K-L] 6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual p expenses. Budgeted Flexible [N] Patient days [A] 27,000 [O] Cost per patient day (Pharm + Misc) [B+C]/[A] $6.89 [P] Total cost (Pharm+Misc) [N x O] $186,000 $186,000 nt Days. Is the variance favorable or Variance $40,000 $11,500 $72,000 $123,500 Unfavorable Unfavorable Unfavorable Unfavorable Variance $123,500 $72,000 $11,500 $40,000 estimate, and the actual patient Actual 27,000 $8.80 $237,500 Revenues [A] [B] [C] [D] Givens: Surgical volume Gift shop revenues Surgery revenues Parking revenues Budgeted 2,500 $19,000 $600,500 $16,000 Actual 2,700 $20,000 $850,750 $18,000 1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favora unfavorable? Budgeted Actual [E] Surgical volume [A] 2,500 2,700 [F] Gift shop revenues [B] $19,000 $20,000 [G] Surgery revenues [C] $600,500 $850,750 [H] Parking revenues [D] $16,000 $18,000 [I] Total variance [E] $635,500 $888,750 3. Determine the service related variance for Surgical Volume. [J] [K] [L] [M] Total variance [I] Gift shop revenue variance [F] Parking revenue variance [H] Service-related variance [J-K-L] 5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual surgical revenues. Budgeted Flexible [N] Surgical volume [A] 2,500 2,700 [O] Surgical revenue per unit [C / A] $240.20 $240.20 [P] Surgical revenue [C] $600,500 $648,540 7. Determine what variances are due to change in volume and what variances are due to change in rates. [Q] [R] [S] [T] [U] Budgeted surgical revenue [P] Flexible surgical revenue [P] Actual surgical revenue [P] Volume variance [R - Q] Rate variance [S - R] Budgeted $600,500 Flexible $648,540 Expenses [A] [B] [C] [D] or Surgical Volume. Is the variance favorable or Givens: Patient days Pharmacy Miscellaneous supplies Fixed overhead costs 2. Determine the total variance between the planned and actual budgets for Patie Variance 200 $1,000 $250,250 $2,000 $253,250 Favorable Favorable Favorable Favorable Favorable [E] [F] [G] [H] [I] Patient days [A] Pharmacy [B] Miscellaneous supplies [C] Fixed overhead costs [D] Total variance 4. Determine the service related variance for Patient Days. Variance $253,250 $1,000 $2,000 $250,250 [J] [K] [L] [M] budget estimate, and the actual surgical Total variance [I] Amt. explained by fixed overhead [F] Other fixed expenses Service-related variance [J-K-L] 6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget Actual 2,700 $315.09 $850,750 [N] [O] [P] ces are due to change in rates. Actual Variance $850,750 $48,040 $202,210 Patient days [A] Cost per patient day (Pharm + Misc) [B+C]/[A] Total cost (Pharm+Misc) [N x O] Expenses Budgeted 27,000 $120,000 $66,000 $808,000 Actual 27,000 $160,000 $77,500 $880,000 ed and actual budgets for Patient Days. Is the variance favorable or unfavorable? Variance 27,000 $120,000 $66,000 $808,000 $994,000 27,000 $160,000 $77,500 $880,000 $1,117,500 $40,000 $11,500 $72,000 $123,500 Variance $123,500 $72,000 $11,500 $40,000 by-side budget, flexible budget estimate, and the actual patient expenses. Budgeted Flexible Actual 27,000 27,000 27,000 $6.89 $6.89 $8.80 $186,000 $186,000 $237,500 Unfavorable Unfavorable Unfavorable Unfavorable