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snel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its geting: evenue ersonnel expenses edical supplies ccupancy expenses ministrative expenses tient-visits Fixed element per month wenue $ 31,500 $1,500 6,500 5,500 $ $ quired: pare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or avorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect zero variance). Input all amounts as positive values.) Quesnel Clinic Static Budget Variance For the Month Ended February 28 Flexible Budget Planning Budget 4,200 Variable element per patient-visit $ 32.20 $.9.60 $5.60 1.60 0.16 4,000 $ $ Static Budget Variance

snel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its geting: evenue ersonnel expenses edical supplies ccupancy expenses ministrative expenses tient-visits Fixed element per month wenue $ 31,500 $1,500 6,500 5,500 $ $ quired: pare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or avorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect zero variance). Input all amounts as positive values.) Quesnel Clinic Static Budget Variance For the Month Ended February 28 Flexible Budget Planning Budget 4,200 Variable element per patient-visit $ 32.20 $.9.60 $5.60 1.60 0.16 4,000 $ $ Static Budget Variance

FINANCIAL ACCOUNTING
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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Quesnel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but its actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its budgeting: Revenue Personnel expenses. Medical supplies Occupancy expenses Administrative expenses Fixed element Variable element per per month Patient-visits Revenue Expenses: $ 31,500 $1,500 $6,500 $ 5,500 Quesnel Clinic Static Budget Variance Required: Prepare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) For the Month Ended February 28 Flexible Budget Planning Budget 4,200 patient-visit $ 32.20 4,000 $.9.60 $5.60 $ 1.60 $ 0.16 Static Budget Variance
Transcribed Image Text:Quesnel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic planned for 4,000 patient-visits, but its actual level of activity was 4,200 patient-visits. The clinic has provided the following data concerning the formulas it uses in its budgeting: Revenue Personnel expenses. Medical supplies Occupancy expenses Administrative expenses Fixed element Variable element per per month Patient-visits Revenue Expenses: $ 31,500 $1,500 $6,500 $ 5,500 Quesnel Clinic Static Budget Variance Required: Prepare a report showing the clinic's static budget variance for February, Indicate in each case whether the variance is favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) For the Month Ended February 28 Flexible Budget Planning Budget 4,200 patient-visit $ 32.20 4,000 $.9.60 $5.60 $ 1.60 $ 0.16 Static Budget Variance
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