F56. Quesnel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, butits actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in itsbudgeting:RevenuePersonnel expenses.Medical suppliesOccupancy expensesAdministrative expensesFixed element Variable element perper monthPatient-visitsRevenueExpenses:$ 31,500$1,500$6,500$ 5,500Quesnel ClinicStatic Budget VarianceRequired:Prepare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) orunfavorable (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.)For the Month Ended February 28Flexible BudgetPlanningBudget4,200patient-visit$ 32.204,000$.9.60$5.60$ 1.60$ 0.16Static Budget Variance

The flexible budget of static budget is prepared to compare the different budgets of production. The…

snel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its geting: evenue ersonnel expenses edical supplies ccupancy expenses ministrative expenses tient-visits Fixed element per month wenue $ 31,500 $1,500 6,500 5,500 $ $ quired: pare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or avorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect zero variance). Input all amounts as positive values.) Quesnel Clinic Static Budget Variance For the Month Ended February 28 Flexible Budget Planning Budget 4,200 Variable element per patient-visit $ 32.20 $.9.60 $5.60 1.60 0.16 4,000 $ $ Static Budget Variance

snel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its geting: evenue ersonnel expenses edical supplies ccupancy expenses ministrative expenses tient-visits Fixed element per month wenue $ 31,500 $1,500 6,500 5,500 $ $ quired: pare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or avorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect zero variance). Input all amounts as positive values.) Quesnel Clinic Static Budget Variance For the Month Ended February 28 Flexible Budget Planning Budget 4,200 Variable element per patient-visit $ 32.20 $.9.60 $5.60 1.60 0.16 4,000 $ $ Static Budget Variance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Touro Dental Clinic uses patient-visits as its measure of activity. During January, the clinic budgeted for 3,600 patient-visits, but its actual level of activity was 3,500 patient-visits. The clinic uses the following revenue and cost formulas in its budgeting, where q is the number of patient-visits:Revenue: $39.70qPersonnel expenses: $38,700 + $11.50qMedical supplies: $1,000 + $7.30qOccupancy expenses: $11,700 + $1.30qAdministrative expenses: $6,700 + $0.30qThe clinic reported the following actual results for January: Revenue - $132,280 Personnel expenses - 76,500 Medical supplies - 26,300 Rent expenses - 16,310 Administrative expenses - 7,620 Required:Prepare a report showing the clinic's revenue and spending variances for April. Label each variance as favorable (F) or unfavorable (U). Fill in all lines. actual flexible…
Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $62.90 per patient-visit. Personnel expenses should be $36,400 per month plus $16.50 per patient-visit. Medical supplies should be $2,700 per month plus $11.90 per patient-visit. Occupancy expenses should be $9,100 per month plus $5.50 per patient-visit. Administrative expenses should be $4,600 per month plus $3.60 per patient-visit. The clinic reported the following actual results for November: Patient-visits Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses Required: 2,870 $ 199,240 $ 89,320 $ 40,240 $ 19,350 $ 9,750 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…
Use the following information for Questions 16 & 17 Ibsen Clinic uses client-visits as its measure of activity. During December, the clinic budgeted for 3,300 client-visits, but its actual level of activity was 3,340 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: Revenue Personnel expenses Medical supplies Occupancy expenses Administrative expenses Total expenses Actual results for December: Revenue Personnel expenses Medical supplies 16. $ 134,170 $ 80,776 $ 17,302 Occupancy expenses $ 15,754 Administrative expenses$ 8,296 17. C. d. Fixed element per month a. b. $0 $ 32,400 $76,620 $77,156 $79,809 $80,776 C. d. 1,500 9,100 6,700 $ 49,700 The personnel expenses in the flexible budget for December would be closest to: a. b. Variable element per client-visit $ 40.00 $13.40 4.80 2.10 0.40 $ 20.70 The net operating income in the flexible budget for December would be closest…
Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 4,000 client-visits, but its actual level of activity was 3,990 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for November. Data used in budgeting: Revenue Personnel expenses Medical supplies occupancy expenses Administrative expenses Total expenses Actual results for November: Revenue Personnel expenses Medical supplies occupancy expenses Administrative expenses Multiple Choice $832 F $832 U $760 U Fixed element Variable element per per month client-visit $36.80 The spending varlance for medical supplies in November would be closest to: $760 F $30,900 1,900 9,000 7,300 $49,100 $147,032 $ 77,944 $ 31,460 $ 21,673 $ 7,859 $11.80 7.20 3.30 0.20 $22.50
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