answer question 4. and a thru f. 4. Consider the following 2007 data for Newark

Question

answer question 4. and a thru f.

4. Consider the following 2007 data for Newark General Hospital (in millions of dollars): a. Calculate and interpret the profit variance. b Calculate and interpret the revenue variance. c. Calculate and interpret the cost variance. d Calculate and interpret the volume and price variances on the revenue side. e. Calculate and interpret the volume and management variance on the cost side. f. How are the variances calculated above related? 5. Consider the following probability distribution of return estimated for a proposed project

Explanation / Answer

a. profit variance is 50% in static budget and 42% in flexible budget

f. the variaces are interlinked and depends on static, flexible and actuals. ususlly the reality is different from expectations, so minimum variations can be acceptable.

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