budgeting hca week 9

PLEASE IGNORE BELOW AND SEE ATTACHED.

Instructions:

The following are budgeted and actual revenues and expenses for a hospital.

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Revenues

Surgical Volume
Gift Shop Revenues Surgery Revenues Parking RevenuesExpenses
Patients Days Pharmacy
Misc Supplies
Fixed Overhead Costs

Budgeted

2,500 $18,500 $592,600 $18,500

28,000 $120,500 $695,000 $836,000

Actual

2,800 $21,200 $862,000 $21,600

26,000 $145,000 $795,000 $885,000

Using an Excel spreadsheet to show your calculations:

Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?
Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?
Determine the service-related variance for Surgical Volume.
Determine the service-related variance for Patient Days.
Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate,and the actual Surgical Revenues.
Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate,and the actual Patient Expenses.
Determine what variances are due to change in volume and what variances are due tochange in rates