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Problem - Detailed Variance analysis

The following are planned and actual revenues for Cutting Edge Surgery Center. Sine they are one of four surgery cents in the community, the administrator is very concerned with his rates in relation to those of his competitors.

                                     Planned                 Actual

Surgical volume                 1,200                 1,400

Gift shop revenues           $12,000             $15,000

Surgery Revenues           $500,500            $750,750

Parking Revenues            $15,000              $17,000

a. Determine the total variance between the planned and actual budgets.

b. Determine the service- related revenues and calculate variance still unexplained.

c. Prepare a flexible budget estimate. Present side-by-side the budget, flexible budget estimate, and actual surgical revenue (and related volumes).

d. Determine what variance is due to change in volume and what variance is due to change in rates.

e. Determine the volume variance and rate variance based on per unit rates.

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  • Reference No.:- M92654756
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