question 1: what information stands out when we compare our flexible budget to our actual budget?
Answer
Blanks on the left
Variable costs | Price per unit |
Medical supplies | $ 12.00 |
Lab tests | $ 9.99 |
Refreshments | $ 2.17 |
Blanks on the right
Flexible Budget | Favorable/Unfavorable | |
Variable costs | ||
Medical supplies | $ 8,640.00 | Favorable |
Lab tests | $ 7,194.00 | Favorable |
Refreshments | $ 1,560.00 | Unfavorable |
Fixed Cost | ||
Rent | $ 850.00 | Neither favorable nor unfavorable |
Utilities | $ 450.00 | Neither favorable nor unfavorable |
Total expense | $ 18,694.00 | Favorable |
Information that stands out when we compare our flexible budget to our actual budget
The fixed cost is the same in case of a flexible budget and actual budget. This is because the fixed costs are fixed payments which are to be paid irrespective of the level of production.
In case of any doubt, please comment.
question 1: what information stands out when we compare our flexible budget to our actual budget?...
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