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Prepared for a home health agency

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Reference no: EM131557106

The following information has been prepared for a home health agency.

 

                                                         Budget           Actual

Wage Rate per Hour                        $16.00           $17.00

Fixed Hours                                          320                320

Variable Hours per Relative

Value Unit (RVU)                           1.0                 1.1

Relative Value Units (RVUs)            1,000             1,200

Total Labor Hours                              1,320             1,640

Labor Costs                                    $21,120         $27,880

Cost per RVU                                  $21.12           $23.23

Budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and the total variance to be explained is $2,536 Unfavorable ($27,880 - $25,344). Be sure to specify whether the variance is favorable or unfavorable.

1. What is the amount of variance that is attributed to the difference between the budgeted and actual wage rate per hour?

2. What is the amount of variance that is attributed to the change in labor productivity?

3. What is the amount of variance that can be attributed to the difference between budgeted and actual volume?

*include explanations for calculations

Reference no: EM131557106

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