Everyone Deserves to Smile mobile dentist office budgeted for 4,350 patient visits a year. Everyone Deserves to Smile actually saw 4,420 patients during the year and they have provided the following data: Fixed Portion for Budget Variable Portion per patient visit for Budget Actual Results Revenue $71.00 $419,600 Personnel Expenses $100,000 $94,000 Medical Supplies $13.00 $38,500 Occupancy Expenses $8,000 $1.75 $18,000 Admin Expenses $19,000 $0.25 $19,850 Based on the given information, what is the flexible budget variance for revenue?
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Everyone Deserves to Smile mobile dentist office budgeted for 4,350 patient visits a year. Everyone Deserves to Smile actually saw 4,420 patients during the year and they have provided the following data:
|
Fixed Portion for Budget |
Variable Portion per patient visit for Budget |
Actual Results |
|
|
Revenue |
$71.00 |
$419,600 |
|
|
Personnel Expenses |
$100,000 |
$94,000 |
|
|
Medical Supplies |
$13.00 |
$38,500 |
|
|
Occupancy Expenses |
$8,000 |
$1.75 |
$18,000 |
|
Admin Expenses |
$19,000 |
$0.25 |
$19,850 |
Based on the given information, what is the flexible
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