## (Solved) How do I complete the spreadsheet for the Budgeting andVariance

How do I complete the spreadsheet for the Budgeting andVariance Analysis?

Revenues

[A]

[B]

[C]

[D]

Givens:

Surgical volume

Surgery revenues

Parking revenues

Budgeted

2,500

\$18,500

\$592,600

\$18,500

Actual

2,800

\$21,200

\$862,000

\$21,600

1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance

favorable or unfavorable?

Budgeted

Actual

Variance

[E]

Surgical volume [A]

2,500

2,800

300

[F]

\$18,500

\$21,200

\$2,700

[G]

Surgery revenues [C]

\$592,600

\$862,000

\$506,400

[H]

Parking revenues [D]

\$18,500

\$21,600

\$3,100

[I]

Total variance [E]

\$632,100

\$907,600

\$275,500

3. Determine the service related variance for Surgical Volume.

Variance

[J]

[K]

[L]

[M]

Total variance [I]

Parking revenue variance [H]

Service-related variance [J-K-L]

27500

\$2,700

3,100

33,300

5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual

surgical revenues.

Budgeted

Flexible

Actual

[N]

Surgical volume [A]

[O]

Surgical revenue per unit [C / A]

[P]

Surgical revenue [C]

7. Determine what variances are due to change in volume and what variances are due to change in rates.

Budgeted

[Q]

[R]

[S]

[T]

[U]

Budgeted surgical revenue [P]

Flexible surgical revenue [P]

Actual surgical revenue [P]

Volume variance [R - Q]

Rate variance [S - R]

Flexible

Actual

Expenses

[A]

[B]

[C]

[D]

ume. Is the variance

Givens:

Patient days

Pharmacy

Miscellaneous supplies

Budgeted

Actual

2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance fa

unfavorable?

[E]

[F]

[G]

[H]

[I]

Patient days [A]

Pharmacy [B]

Miscellaneous supplies [C]

Total variance

28,000

\$120,500

\$695,000

\$836,000

\$1,679,500

26,000

\$145,000

\$795,000

\$885,000

\$1,851,000

4. Determine the service related variance for Patient Days.

[J]

[K]

[L]

[M]

te, and the actual

change in rates.

Variance

Total variance [I]

Amt. explained by fixed overhead [F]

Other fixed expenses

Service-related variance [J-K-L]

6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate, and the actual p

Budgeted

Flexible

[N]

Patient days [A]

[O]

Cost per patient day (Pharm + Misc) [B+C]/[A]

[P]

Total cost (Pharm+Misc) [N x O]

Days. Is the variance favorable or

Variance

Variance

timate, and the actual patient expenses.

Actual

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This question was answered on: Oct 15, 2019

Solution~000.zip (25.37 KB)

STATUS

QUALITY

Approved

Oct 15, 2019

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