User Account

All Pages

Find net operating income in planning budget for december

Assignment Help Accounting Basics
Reference no: EM131814572

Question - Lizana Clinic uses client-visits as its measure of activity. During December, the clinic budgeted for 3,700 clientvisits, but its actual level of activity was 3,680 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December Data used in budgeting:

Fixed Element

Variable Per month client-visit

Revenue

-

39.40



Personnel expenses

27,300

11.50

Medical supplies

1,500

5.60

Occupancy expenses

10,100

1.00

Administrative expenses

6,900

0.30

Total expenses

45,800

18.40



Actual results for December:

Revenue

126,712

Personnel expenses

71,560

Medical supplies

22,628

Occupancy expenses

14,350

Administrative expenses

8,104

1. The net operating income in the planning budget for December would be closest to:

A. $10,125

B. $10,016

C. $14,920

D. $15,250

2. The net operating income in the flexible budget for December would be closest to:

A. $15,250

B. $10,125

C. $10,016

D. $14,920

3. The activity variance for net operating income in December would be closest to:

A. $330 U

B. $330 F

C. $5,180 U

D. $5,180 F

4. The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for December would be closest to:

A. $4,850 F

B. $5,180 U

C. $4,850 U

D. $5,180 F

Reference no: EM131814572

Questions Cloud

What are some of the ad valorem property tax problems morgan : Morgan inherits her father's personal residence, including all of the furnishings. She plans to add a swimming pool and sauna to the property
Prepare the reconciliation of the governmental fund balances : Prepare the reconciliation of the governmental fund balances to the net position reported for governmental activities on the Statement of Net Position
Why should a task analysis be performed to address : Why would it be important to participate in a cross-cultural training before a business trip out of the country or an international assignment?
What is a reasonable explanation for this oversight : What is a reasonable explanation for this oversight, Several years ago Ethan purchased the former parsonage of St. James Church to use as a personal residence
Find net operating income in planning budget for december : Lizana Clinic uses client-visits as its measure of activity. The net operating income in the planning budget for December would be closest to
Discuss the strengths of a centralized federal government : discuss the strengths and weaknesses of a centralized federal government, being sure to bring in specific examples and quotes from the primary source.
How the act of bullying experienced by one adolescent : Post a scenario that illustrates how bullying experienced by one adolescent may change the experience of another who witnesses it.
Describe the agencys intervention-treatment plan : Briefly discuss how the agency can incorporate those best practices into the current intervention/treatment plan.
Discuss the basis of direct labor-hours : Baker Corporation applies manufacturing overhead on the basis of direct labor-hours

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd