Asked by Benjamin Etshim on Jul 30, 2024
Verified
Laizure Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $59.90 per patient-visit. Personnel expenses should be $36,100 per month plus $16.20 per patient-visit. Medical supplies should be $2,400 per month plus $11.60 per patient-visit. Occupancy expenses should be $8,800 per month plus $4.00 per patient-visit. Administrative expenses should be $4,300 per month plus $2.10 per patient-visit.The clinic reported the following actual results for November:
Required:Prepare a report showing the clinic's revenue and spending variances for November. Label each variance as favorable (F) or unfavorable (U).
Patient-Visits
The number of encounters or visits made by patients to a healthcare provider or facility within a specified period.
Revenue And Spending Variances
Differences between the actual and budgeted amounts on both the revenue side and the expenditure side, indicating the financial performance over a certain period.
- Determine and scrutinize the variance in revenue and expenses.
- Examine and modify financial plans for organizations focused on services.
Verified Answer
ZK
Learning Objectives
- Determine and scrutinize the variance in revenue and expenses.
- Examine and modify financial plans for organizations focused on services.
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