Follow the instruction then completed the budget excel template. Healthcare Financial Management and Economics Week 9 Assignment –

Follow the instruction then completed the budget excel template.

Healthcare Financial Management and Economics

Week 9 Assignment – Budgeting

Instructions:

The following are budgeted and actual revenues and expenses for a hospital.

______________________________________________________________________________

Budgeted Actual

Revenues

Surgical Volume 2,800 2,700

Gift Shop Revenues $19,000 $19,000

Surgery Revenues $925,500 $850,750

Parking Revenues $16,000 $15,000

Expenses

Patients Days 27,000 27,000

Pharmacy $120,000 $140,000

Misc Supplies $66,000 $77,500

Fixed Overhead Costs $808,000 $880,000

Using an Excel spreadsheet to show your calculations:

1. Determine the total variance between the planned and actual budgets for Surgical Volume.
Is the variance favorable or unfavorable?

2. Determine the total variance between the planned and actual budgets for Patient Days. Is
the variance favorable or unfavorable?

3. Determine the service-related variance for Surgical Volume.
4. Determine the service-related variance for Patient Days.
5. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate,

and the actual Surgical Revenues.
6. Prepare a flexible budget estimate. Present side-by-side budget, flexible budget estimate,

and the actual Patient Expenses.
7. Determine what variances are due to change in volume and what variances are due to

change in rates.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Experience a revolution in beauty shopping with Sofiqe.com, the premier UK site offering personalized beauty recommendations through an advanced AI tool.

Experience a revolution in beauty shopping with Sofiqe.com, the premier UK site offering personalized beauty recommendations through an advanced AI tool. Discover our extensive range of affordable, high-quality makeup products including foundations, eyeshadows, concealers, and more, all tailored to your unique beauty profile. Start your journey to perfect makeup application