The controller for Rainbow Children’s Hospital, located in Munich. Germany, estimates that the hospital uses 30 kilowatt-hours of electricity per patient-day, and that the electric rate will be .10 euro per kilowatt-hour. The hospital also pays a fixed monthly charge of 1,000 euros to the electric utility to rent emergency backup electric generators.
Required: Construct a flexible budget for the hospital’s electricity costs using each of the following techniques.
1. Formula flexible budget.
2. Columnar flexible budget for 30,000. 40,000 and 50,000 patient-days of activity. List variable and fixed electricity costs separately.
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