Bartosiewicz Clinic uses client-visits as its measure of activity. During January, the clinic budgeted for 5,400 client-visits, but itsactual level of activity was 5,420 client-visits. The clinic has provided the following data concerning the formulas used in itsbudgeting and its actual results for January:Data used in budgeting:RevenueFixed element per month Variable element per client-visit$0$ 37.40$ 29,400$ 13.40Personnel expensesMedical supplies 1,700Occupancy expenses 10,400Administrative expenses6,900Total expenses$ 48,4007.401.000.50$ 22.304 Actual results for January:RevenuePersonnel expensesMedical suppliesOccupancy expensesAdministrative expenses$ 150,400$ 70,100$ 20,228$ 14,110$ 7,590AThe overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variancecolumn on the flexible budget performance report) for January would be closest to:$4,930 F$5,232 F$4,930 U$5,232 U

Standard costing is the method of comparing the actual result of business operations with the budget…

Actual results for January: Revenue $ 150,400 $ 70,100 $ 20,228 $ 14,110 $ 7,590 s The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for January would be closest to: $4,930 F $5,232 F $4,930 U $5,232 U Personnel expenses Medical supplies Occupancy expenses Administrative expenses

Actual results for January: Revenue $ 150,400 $ 70,100 $ 20,228 $ 14,110 $ 7,590 s The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for January would be closest to: $4,930 F $5,232 F $4,930 U $5,232 U Personnel expenses Medical supplies Occupancy expenses Administrative expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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