Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $59.90 per patient-visit. Personnel expenses should be $36,100 per month plus $16.20 per patient-visit. Medical supplies should be $2,400 per month plus $11.60 per patient-visit. Occupancy expenses should be $8,800 per month plus $4.00 per patient-visit. Administrative expenses should be $4,300 per month plus $2.10 per patient-visit. The clinic reported the following actual results for November: Patient-visits 2,840 $ 184,240 $ 86,320 $ 37,840 $ 16,950 $ 7,350 Revenue Personnel expenses Medical supplies Оccuрancy expenses Administrative expenses Required: Prepare a report showing the clinic's revenue and spending variances for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Revenue and Spending Variances Actual Results Flexible Budget Patient-visits 2,840 2,840 Revenue Expenses: Personnel expenses Medical supplies Occupancy expenses Administrative expenses Total expense Net operating income Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $59.90 per patient-visit. Personnel expenses should be $36,100 per month plus $16.20 per patient-visit. Medical supplies should be $2,400 per month plus $11.60 per patient-visit. Occupancy expenses should be $8,800 per month plus $4.00 per patient-visit. Administrative expenses should be $4,300 per month plus $2.10 per patient-visit. The clinic reported the following actual results for November: Patient-visits 2,840 $ 184,240 $ 86,320 $ 37,840 $ 16,950 $ 7,350 Revenue Personnel expenses Medical supplies Оccuрancy expenses Administrative expenses Required: Prepare a report showing the clinic's revenue and spending variances for November. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Laizure Clinic Revenue and Spending Variances For the Month Ended November 30 Revenue and Spending Variances Actual Results Flexible Budget Patient-visits 2,840 2,840 Revenue Expenses: Personnel expenses Medical supplies Occupancy expenses Administrative expenses Total expense Net operating income
Expert Answer:
Answer rating: 100% (QA)
Laizure Clinic Revenue and Spending Variances For the month ended November 30 Actual Flexible ... View the full answer
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111971724
9th edition
Authors: Michael R. Kinney, Cecily A. Raiborn
Posted Date:
Students also viewed these accounting questions
-
Lauser Clinic uses client-visits as its measure of activity. During July, the clinic budgeted for 3,700 client-visits, but its actual level of activity was 3,690 client-visits. The clinic has...
-
Tajiri Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of May: Tajiri Corporation...
-
You have been asked to prepare a report showing monthly sales by geographic region. Most of the managers using the report are not accountants, so your supervisor thought they would be more likely to...
-
Regulation imperial soccer fields have a length of 91 meters and a width of 39 meters. Show that during a friendly match there are always two players that are not farther from each other than 19...
-
You have been called in as an XBRL consultant. The president of the company has asked for your opinion regarding the costs and benefits of XBRL. What would you say? What benefits of XBRL do you see...
-
The logical address space in a computer system consists of 128 segments. Each segment can have up to 32 pages of 4K words in each. Physical memory consists of 4K blocks of 4K words in each. Formulate...
-
A \([0 / 90 / 0]_{\mathrm{s}}\) laminate consisting of AS/3501 carbon/epoxy laminae is subjected to uniaxial loading along the \(x\)-direction. Use the maximum strain criterion to find the loads...
-
Dilution the Metallica Heavy Metal Mining (MHMM) Corporation wants to diversify its operations. Some recent financial information for the company is shown here. MHMM is considering an investment that...
-
Lauridsen Design Inc. (LDI) is an architectural and design firm located in Calgary, Alberta. LDI has an information technology services group (IT Services) and a finance and accounting services group...
-
A mass-transfer process is used to remove ammonia (NH 3 , solute A) from a mixture of NH 3 and air, using water as the absorption solvent. At the present conditions of operation, the partial pressure...
-
The income statements for the year ended 31 December 2020 and the statements of financial position as at 31 December 2020 for Garden Plc, Leaf Ltd and Flower Ltd are given as follows: Statements of...
-
You push a wooden block and friction causes it to stop eventually. If the acceleration during the process is constant, calculate the fraction of its kinetic energy lost as a function of the distance...
-
A \(2-\mathrm{kg}\) block moving at \(4 \mathrm{~m} / \mathrm{s}\) hits a slower \(1-\mathrm{kg}\) block moving at \(2 \mathrm{~m} / \mathrm{s}\). If the \(2-\mathrm{kg}\) block continues in the same...
-
An anti-hydrogen atom, A, is composed of one positron orbiting one antiproton just as a regular hydrogen atom is composed of one electron orbiting one proton. The difference is that each antiparticle...
-
Two Population Poissons. We can express the two population problem in a regression context using one explanatory variable. Specifically, suppose that \(x_{i}\) only takes on the values of zero and...
-
(a) About how many electrons are there in a copper penny, which has a mass of about \(0.003 \mathrm{~kg}\) ? (b) If you could isolate these electrons, how much charge would you have? (c) Estimate the...
-
What is the language of international business? Do you feel that international sales people must be bilingual? Please support your response with intelligent comments and cited material - references.
-
Prove that if Σ an is absolutely convergent, then a. an
-
Joes Lawn Care Service primarily mows lawns for residential customers. Management has determined direct labor hours is the primary cost driver and has developed the following cost equations based on...
-
The following budgeted May 2013 cash information is available for Salado Corp.: Net after-tax income .............. $ 336,000 Depreciation expense .............. 56,200 Accrued income tax expense...
-
The Coca- Cola Company has taken sustainability to heart by specifying seven core areas in which to set goals and measure progress; the foundation of this framework is titled LIVE POSITIVELY. Review...
-
WorldCom overstated its sales by holding its books open at the close of a reporting period. True/False
-
If a company overstates merger reserves at the time of acquiring another company, it can release the surplus reserves into earnings in a later period without decreasing net income at the time of the...
-
WorldCom prepared its financial statements to meet the expectations of securities analysts despite needing to report actual earnings and accurate financial results. True/False
Study smarter with the SolutionInn App