I really need assistance with this assignment. THank you!!!
I really need assistance with this assignment. 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 Volume2,5002,800Gift Shop Revenues$18,500$21,200Surgery Revenues$592,600$862,000Parking Revenues$18,500$21,600ExpensesPatients Days28,00026,000Pharmacy$120,500$145,000Misc Supplies$695,000$795,000Fixed Overhead Costs$836,000$885,000Using 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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