Seard Clinic uses patient-visits as its measure of activity. The clinic has prov

Question

Seard Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: Seard Clinic For the Month Ended December 31 Planning Budget 2,000 Actual Results 2,400 Patient-visits Revenue ($58.10q) $116,200 $142.080 Personnel expenses ($30,400+$17.40q) Medical supplies ($1,300+$9.60q) Occupancy expense ($9,000+S1.90q) Administrative expenses ($6,200+$0.30q) 65,200 20,500 12,800 6,800 74,250 24,670 14,020 6,860 Total expense Net operating income $22,280 Prepare the clinic's flexible budget performance report for December. Label cach variance as favorable (F) or unfavorable (U). Seard Clinic For the Month Ended December 31 Revenue and Actual Planning Activity Flexible Budget Variances Budget Spending VarancsRsl Varins Patient-visits 2,400 2,000 Revenue ($58.10q) SI16.200 $142,080 Personnel expenses ($30,400+$17.40q) Medical supplies ($1,300+59.60q) Occupancy expense ($9,000+$1.904) Administrative expenses6.800 65,200 20,500 12,800 74,250 24,670 14,020 6,860 119.800 ($6,200+S0.30q) Total expense Net et operating income $10,900

Explanation / Answer

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Seard Clinic :Flexible budgeting and variance analysis: Formula Planning Budget Activity Variances F/U/N Flexible budget Revenue and spending variances F/U/N Actual Results patient visits (q) 2000 400 2400 2400 Revenue $58.10q 116200 23240 F 139440 2640 F 142080 Expense: Personnel exp (30400+17.40q 65200 6960 U 72160 -2090 U 74250 Medical supplies 1300+9.60q 20500 3840 U 24340 -330 U 24670 Occupancy exp 9000+1.90q 12800 760 U 13560 -460 U 14020 Adminis exp 6200+0.30q 6800 120 U 6920 60 F 6860 Total Expenses 105300 11680 U 116980 -2820 U 119800 Net Operating income 10900 11560 F 22460 -180 U 22280

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