Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

Problem: The administrator of Appomattox Nursing Home is extremely aware of needing to keep his cost down because he just negotiated a new arrangement with a large insurance company which will pay him a fixed amount per patient day. Listed below are budgeted and actual expenses for previous month.

Actual patient days were 30,000 compared to budgeted patient days of 24,000.

1254_bugdet cost table.jpg

1. Find out the total variance associated with planned and actual expenses.

2. Make a flexible budget of expense at 30,000 patient days.

3. Find out the “Spending Variance” which is defined as Actual costs less costs budgeted at actual volume.

 

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93494

Have any Question? 


Related Questions in Financial Accounting

Assignment1 frazer corporation purchased 60 percent of

Assignment 1. Frazer Corporation purchased 60 percent of Minnow Corporation's voting common stock on January 1, 20X1. On December 31, 20X1 Frazer received $210,000 from Minnoq for a truck. Frazer had purchased on January ...

Intermediate accountingthe following information is

Intermediate Accounting The following information is available for the pension plan of Jones Company for the year 2014. Actual and expected return on plan assets $ 15,000 Benefits paid to retirees 40,000 Contributions (f ...

Accounting assignmentapplication break-even analysiswhen

Accounting Assignment Application: Break-Even Analysis When expenses and revenues are equal, this is known as the "break-even point" or BEP. To determine break-even, an examination of fixed and variable costs (expenses) ...

In fiscal 2010 dell inc acquired perot systems for 3878

In Fiscal 2010, Dell Inc. acquired Perot Systems for $3,878 million in cash. Perot's net assets acquired hand the following fair values at the acquisition date. In Million Fair Value cash and cash equivalents $266 Accoun ...

Assignment reorganizations and consolidated tax

Assignment: Reorganizations and Consolidated Tax Returns Suppose you are a CPA, and you have a corporate client that has been operating for several years. The company is considering expansion through reorganizations. The ...

Discussion financial conditionbullfor this discussion

Discussion: Financial Condition • For this discussion, assume the role of a financial manager in a company, and assume that you have just hired a new bookkeeper to join your team. You want to assess the new hire's unders ...

Short investment horizon suppose you plan to go to graduate

Short investment horizon: Suppose you plan to go to graduate school in two years and you will need money for tuition. Which type of risk would you be most concerned with and why? Long investment horizon: Suppose that a y ...

Effective-interest versus straight-line bond amortization

(Effective-Interest versus Straight-Line Bond Amortization) On January 1, 2013, Phantom Company acquires $200,000 of Spiderman Products, Inc. 9% bonds at a price of $185,589 The interest is payable each December 31, and ...

Tootsie roll industries2015 annual report analysis

Tootsie Roll Industries 2015 Annual Report Analysis Questions Net earnings refers to net income temporary investments are current assets Q1 Where are its corporate headquarters? on What date was tootsie roll's last annua ...

Application calculating variances and analyzing the

Application: Calculating Variances and Analyzing the Results While many organizational costs can be planned for, the actual results may vary from the initial projections. Assessing how these variances impact the bottom l ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen