Output/Input Budget Vinyard Clinic has the following resource input information

Question

Output/Input Budget
Vinyard Clinic has the following resource input information available for a routine physical examination.

• Each exam normally requires 1.25 hours of examining room time, including:

45 minutes of nursing services,

30 minutes of physician services

• Each exam also utilizes one package of examination supplies costing $32 each.

• Including benefits, physicians earn $77/hour and nurses earn $34/hour.

• Variable overhead is budgeted at $37 per examining room hour and fixed overhead is budgeted at $7,000 per month.

Required
Prepare an output/input budget for October when 500 routine examinations are planned. Discuss some of the likely benefits to Vinyard Clinic of dedicating time to go through the budgeting process.

VINYARD CLINIC Output/Input Budget For the Month of October Examining supplies $Answer Labor: Nursing services $Answer Physician services Answer Answer Variable overhead Answer Fixed overhead Answer Total budget $Answer

Explanation / Answer

Examining supplies 16000 (32*500) Labour: Nursing services 12750 (45*34/60*500) Physician services 19250 32000 (30*77/60*500) Variable Overhead 23125 (1.25*37*500) Fixed Overhead 7000 78125

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