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BS,MBA, PHD
Adelphi University/Devry
Apr-2000 - Mar-2005
HOD ,Professor
Adelphi University
Sep-2007 - Apr-2017
Instructions:
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The following are budgeted and actual revenues and expenses for a hospital.
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Budgeted Actual
Revenues
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Surgical Volume 2,500 2,700
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Gift Shop Revenues $19,000 $20,000
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Surgery Revenues $600,500 $850,750
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Parking Revenues $16,000 $18,000
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Expenses
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Patients Days 27,000 27,000
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Pharmacy $120,000 $160,000
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Misc Supplies $66,000 $77,500
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Fixed Overhead Costs $808,000 $880,000
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Using an Excel spreadsheet to show your calculations:
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1. Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?
2. Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?
3. Determine the service-related variance for Surgical Volume.
4. Determine the service-related variance for Patient Days.
5. Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.
6. Prepare a flexible budget estimate. Present a side-by-side budget, flexible budget estimate, and the actual Patient Expenses.
7. Determine what variances are due to change in volume and what variances are due to change in rates.
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