Verona Clinic bases budgets on the number of patient-visits. For October, the clinic planned for...
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Verona Clinic bases budgets on the number of patient-visits. For October, the clinic planned for 2,800 patient-visits. The clinic has provided the formulas it uses for budgeting: Fixed Variable clement clement per per month patient-visit Revenue $50.00 Personnel expenses $37,700 $14.80 Medical supplies $1,500 $9.50 Occupancy expenses $8,000 $2.20 Administrative expenses $4,000 $0.30 The clinic has also furnished its income statement for October: Actual patient-visits. 3,100 Revenue. $164,750 Expenses: Personnel expenses. 86,290 Medical supplies.. 29,780 Occupancy expenses 15,030 Administrative expenses 5.180 Total expenses 136,280 Net operating income $ 28,470 Required: Using the partial framework provided below, prepare a flexible budget performance report for October. a Indicate all variances and their direction (U or F). Show your calculations. Verona Clinic Flexible Budget Performance Report - October Revenue & Actual Spending Flexible Activity Planning Results variances Budget variances Budget Patient-visits 3,100 Revenue $164,750 $ $ $ Expenses: Personnel 86,290 Medical supplies 29,780 15,030 Occupancy Administrative 5.180 Total expenses 136,280 Net operating income $ 28.470 $ $ S
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