Consider the following data for Yellowstone Regional Hospital (in millions of do
ID: 2710439 • Letter: C
Question
Consider the following data for Yellowstone Regional Hospital (in millions of dollars):
Static Budget
Flexible Budget
Actual Results
Revenues
$7.0
$6.8
$6.8
Costs
$6.3
$6.3
$6.6
Profits
$0.7
$0.5
$0.2
40.
Answer all parts of the question and please label your answers clearly.
a Calculate and interpret the profit variance. (2 points)
b Calculate and interpret the revenue variance. (2 points)
c Calculate and interpret the cost variance. (2 points)
Consider the following data for Yellowstone Regional Hospital (in millions of dollars):
Static Budget
Flexible Budget
Actual Results
Revenues
$7.0
$6.8
$6.8
Costs
$6.3
$6.3
$6.6
Profits
$0.7
$0.5
$0.2
Explanation / Answer
Static Budget Flexible Budget Actual Results Variance Revenues $7.00 $6.80 $6.80 $0.00 There is no revenue variance Costs $6.30 $6.30 $6.60 ($0.30) Actual costs were higher by $0.3 million than budgeted Profits $0.70 $0.50 $0.20 ($0.30) Actual proft was lesser by $0.3 million than budgeted
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.