Please help me Homework ProblemsProblem 8-You have the following data for January 1-May 31 of this fiscal year with which to prepare arexpense forecast. This fiscal year runs from January 1 to December 31 of 20X5. Fixedexpenses were $2,450,000 and variable expenses were $355,000. During the first five monthsof the year, $80,000 of fixed expense was spent on a health department survey. Anotheradjustment to fixed expenses occurred in April when a vendor refunded $20,000 for prepaidservices that were never provided last year. Volume through May 31 has been 200,000 visits.Assume the following:• Monthly volume will be 4,000 visits per month higher in the remaining part of the year(6/1/20X5 to 12/31/20X5) compared to the average monthly volume of the first fivemonths.• Three new practitioners are expected to join the staff on October 1st.Each new practitioner eams $125,000 per year, inclusive of fringe benefits.Calculate the fixed, variable, and total expense forecast for 20X5.

Problem 8- You have the following data for January 1-May 31 of this fiscal year with which to pre expense forecast. This fiscal year runs from January 1 to December 31 of 20X5. Fixec expenses were $2,450,000 and varlable expenses were $355,000. During the first five of the year, $80,000 of fixed expense was spent on a health department survey. Anothe

Problem 8- You have the following data for January 1-May 31 of this fiscal year with which to pre expense forecast. This fiscal year runs from January 1 to December 31 of 20X5. Fixec expenses were $2,450,000 and varlable expenses were $355,000. During the first five of the year, $80,000 of fixed expense was spent on a health department survey. Anothe

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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