Hello, your help on this assignment is greatly appreciated please show your work
Hello, your help on this assignment is greatly appreciated please show your work. Thank you
Healthcare Financial Management and EconomicsWeek 9 Assignment — Budgeting and Variance AnalysisInstructions:The following are budgeted and actual revenues and expenses for a hospital.BudgetedActualRevenuesSurgical Volume2,5002,700Gift Shop Revenues$19,000$20,000Surgery Revenues$600,500$850,750Parking Revenues$16,000$18,000ExpensesPatients Days27,00027,000Pharmacy$120,000$160,000Misc Supplies$66,000$77,500Fixed Overhead Costs$808,000$880,000Using an Excel spreadsheet to show your calculations:1. Determine the total variance between the planned and actual budgets forSurgical Volume. Is the variance favorable or unfavorable?2. Determine the total variance between the planned and actual budgets forPatient Days. Is the variance favorable or unfavorable?3. Determine the service-related variance forSurgical Volume.4. Determine the service-related variance forPatient Days.5. Prepare a flexible budget estimate. Present a side-by-side budget, flexiblebudget estimate, and the actualSurgical Revenues.6. Prepare a flexible budget estimate. Present a side-by-side budget, flexiblebudget estimate, and the actualPatient Expenses.7.Determine what variances are due to change in volume and what variancesare due to change in rates.© 2015 Laureate Education, Inc.Page 1 of 1
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