Profit variance = Actual - Budgeted = 75,000 - 130,000 = (55,000) Unfavorable Option D |
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11. Chelsea Clinic's static budget, flexible budget and actual expense information for 2018 is listed below....
Chelsea Clinic’s static budget, flexible budget and actual expense information for 2020 is listed below. Assumptions: Static Budget Flexible Budget Actual Results Blue Cross Visits 36,000 40,000 40,000 Highmark Visits 54,000 60,000 60,000 Total Visits 90,000 100,000 100,000 Revenues Blue Cross $ 900,000 $ 1,000,000 $ 1,120,000 Highmark $ 1,080,000 $ 1,200,000 $ 1,080,000 Total $ 1,980,000 $ 2,200,000 $ 2,200,000 Costs Variable: Labor $ 1,200,000 $ 1,333,333 $ ...
8.6 attached for reference 8.7 Refer to Problem 8.6. Chelsea Clinic's actual results for 2015 are shown in the table below. Total FFS Visit Volume Payer Mix: 100,000 visits Blue Cross 40% 60% Highmark Reimbursement Rates: Blue Cross $28 per visit $18 per visit Highmark Variable Costs Resource Inputs 50,000 total hours 150,000 total units (continued) Labor Supplies continued from previous page) Resource Input Prices: $28.00 per hour $1.50 per unit $500,000 Labor Supplies Fixed Costs (overhead, plant, and equipment)...
(--) 。 소 | Chelsea Clinic's projected budget information for 2015 is listed below. Total FFS Visit Vohume Payer Mix 凸 https:/ intncture.comuurse /1499132/qannaosannake 90,000 visits Blue Cross 40% 60% Highmark Blue Cross Highmark S25 per visit S20 per visit Variable Costs Resource Inputs Labor Supplies 48,000 total hours 00,000 total units Resource Input Prices Labor Supplies S 25.00 per hour S 1.50 per unit Fixed Costs (overhead plant and equipment) $500,000.00 Based on this information, calculate the Blue Cross...
6 Chelsea Clinic projected the following budget information for 2015: 8. Total FFS Visit Volume Payer Mix: 90,000 visits Blue Cross Highmark 40% 60% Reimbursement Rates: Blue Cross Highmark $25 per visit $20 per visit Variable Costs Resource Inputs: Labor Supplies Labor Supplies 48,000 total hours 100,000 total units Resource Input Prices $25.00 per hour $1.50 per unit $500,000 Fixed Costs (overhead, plant, and equipment) a. Construct Chelsea Clinic's operating budget for 2015. b. Discuss how each key budget assumption...
Chapter 8: Financia l Planning and Budgeting elsea Clinic projected the following budget information for 2015: Che 8.6 Total FFS Visit Volume Payer Mix: 90,000 visits Blue Cross 40% 60% Highmark Reimbursement Rates: Blue Cross Highmark $25 per visit $20 per visit Variable Costs Resource Inputs: Labor 48,000 total hours 100,000 total units Supplies Resource Input Prices: Labor Supplies $25.00 per hour $1.50 per unit $500,000 Fixed Costs (overhead, plant, and equipment) a. Construct Chelsea Clinic's operating budget for 2015...
Problem 1 Tallahassee Clinic projected the following budget information for 2018: Total FFS Visit Volume 90,000 visits Payer Mix: Blue Cross 40% Celtic Insurance Company 60% Reimbursement Rates: Blue Cross $25 per visit Celtic Insurance Company $20 per visit Variable Costs – Resource Inputs: Labor 48,000 total hours Supplies 100,000 total units Variable Costs – Input Prices: Labor $25 per hour Supplies $1.50 per unit Fixed Costs (overhead, plant, and equipment) $500,000...
Problem 1 Tallahassee Clinic projected the following budget information for 2018: Total FFS Visit Volume 90,000 visits Payer Mix: Blue Cross 40% Celtic Insurance Company 60% Reimbursement Rates: Blue Cross $25 per visit Celtic Insurance Company $20 per visit Variable Costs – Resource Inputs: Labor 48,000 total hours Supplies 100,000 total units Variable Costs – Input Prices: Labor $25 per hour Supplies $1.50 per unit Fixed Costs (overhead, plant, and equipment) $500,000...
a) Prepare actual, static and flexible budget income statements for December. b) What is the flexible budget variance and volume variance for total COGM and indicate if it is favorable or unfavorable? c) To further investigate the flexible budget variance, Merry Inc. found that the budgeted direct labor rate was $54 per hour and expected production rate was 10 trees per hour. Actual direct labor rate was $70 per hour and actual production rate was 12 trees per hour. Compute...
Static Budget versus Flexible Budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages Utilities $420,000 30,000 50,000 $500,000 Depreciation Total July The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced May $472,000 110,000 June 451,000 100,000 430,000 90,000 The Machining Department supervisor has...
Static Budget versus Flexible Budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages $2,250,000 Utilities 72,000 Depreciation 36,000 Total $2,358,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced May $1,600,000 40,000 June 1,950,000 48,000 July 2,200,000 52,000 The Machining Department supervisor has...