Week$\_7$ Variance Analysis Exercise

Revenue and expense variance information for an ambulatory care clinic

$\backslash$table$[[$Givens:$,$Budgeted,Actual,Variance,Status$],[$A$,$Visits,$1,000,1,200,],[$B$,$Revenues,$$100,000,$$$117,000,],[$C$,$Expenses,$$65,000,$$$70,000,],[$D$,$Net Income,$$35,000,$$$47,000,]]$

a$)$ Variance: Calculate the variance $($Budgeted $-$ Actural for each category $(12$ points$)$

b$)$ Status: Determine was the Variance Favorable or Unvavorable. Note in Status Column $(12$ points$).$