Using the template attached separately, complete a variance analysis using the following information. Complete all fields in the template, along with an interpretation of volume, reimbursement and costs as they relate to the profits in the Simple Budget (50 points) Simple Budget Actual Results I. Volume (Number of Visits) Payer A 11,000 11,000 Payer B 8,500 8,250 Total 19,500 19,250 II. Reimbursement (per Visit) Payer A $100 $100 Payer B $90 $90 III. Costs: Variable Costs Supplies $331,500 $360,000 Fixed Costs Labor $600,000 $575,000 Overhead 450,000 435,000 Total $1,050,000 $1,010,000 Simple Budget Actual Results Variance Amount % I. Volume (Number of Visits) Payer A Payer B Total II. Reimbursement (per Visit) Payer A Payer B III. Costs: Variable Costs Supplies Fixed Costs Labor Overhead Total IV. Forecasted P&L Statement Revenues: Payer A Payer B Total Revenues Variable Costs Fixed Costs Total Costs Profit Flexible Budget Actual Results Variance Amount % I. Volume (Number of Visits) Payer A Payer B Total II. Reimbursement (per Visit) Payer A Payer B III. Costs: Variable Costs Supplies Fixed Costs Labor Overhead Total IV. Forecasted P&L Statement Revenues: Payer A Payer B Total Revenues Variable Costs Fixed Costs Total Costs Profit

PLEASE RESPOND IN DETAILED STEP BY STEP SOLUTION.(Fundamentals of Healthcare Finance)