Answer
Actual Results |
Spending Variance |
Flexible Budget |
Activity variance |
Planning Budget |
|||
Litres of blood collected (q) |
610 |
610 |
490 |
||||
[A] |
[B = Difference between A & C] |
[C = Fixed + (Var x Actual units)] |
[D = Difference between C & E] |
[E= Fixed + (Var x Planned units)] |
|||
Medical Supplies |
$7,203 |
$117 |
F |
$7,320 |
$1,440 |
U |
$5,880 |
Lab Tests |
$5,081 |
$1,019 |
F |
$6,100 |
$1,200 |
U |
$4,900 |
Equipment depreciation |
$2,905 |
$305 |
U |
$2,600 |
$0 |
None |
$2,600 |
Rent |
$1,050 |
$0 |
None |
$1,050 |
$0 |
None |
$1,050 |
Utilities |
$597 |
$72 |
U |
$525 |
$0 |
None |
$525 |
Administrative |
$11,525 |
$255 |
U |
$11,270 |
$240 |
U |
$11,030 |
Total Expenses |
$28,361 |
$504 |
F |
$28,865 |
$2,880 |
U |
$25,985 |
Fixed part |
+( |
Variable part |
x |
Actual/Planned units |
) |
|
Medical Supplies |
$0 |
+( |
$ 12.00 |
x |
610 or 490 |
) |
Lab Tests |
$0 |
+( |
$ 10.00 |
x |
610 or 490 |
) |
Equipment depreciation |
$2,600 |
+( |
x |
610 or 490 |
) |
|
Rent |
$1,050 |
+( |
$ - |
x |
610 or 490 |
) |
Utilities |
$525 |
+( |
$ - |
x |
610 or 490 |
) |
Administrative |
$10,050 |
+( |
$ 2.00 |
x |
610 or 490 |
) |
Total Expenses |
$14,225 |
+( |
$ 24.00 |
x |
610 or 490 |
) |
Conceptual notes: |
#1: Flexible Budget data is based on 'budgeted rates' applied on 'actual level/output/units' |
#2: Spending Variance = Difference between 'Actual data' and 'Flexible Budget data' |
#3: Activity Variance = Difference between 'Flexible Budget data' and 'Static/Planned Budget data'. |
* Favourable Variance in case of Expenses/Costs occurs when: |
>Actual expenses/costs are LESS than Flexible budget expense/costs [Spending Variance] |
>Flexible budget expenses/costs are LESS than Static/Planned budget expenses/costs [Activity Variance] |
* Unfavourable Variance in case of Expenses/Costs occurs when: |
>Actual expenses/costs are MORE than Flexible budget expense/costs [Spending Variance] |
>Flexible budget expenses/costs are MORE than Static/Planned budget expenses/costs [Activity Variance] |
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Canbbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largecly bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...
The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring Islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...