Thursday
October 2, 2014

Homework Help: accounting

Posted by Doloes on Sunday, September 26, 2010 at 8:24pm.

Assignment

Please prepare the homework problems in the form of a Word and/or Excel file. Try to use one file to submit your answers if possible and include the questions with your answers. You must show your calculations.
A dermatology clinic expects to contract with an HMO for an estimated 80,000 enrollees. The HMO expects 1 in 4 of its enrolled members to use the dermatology services per month. At the end of the year, the dermatology clinic™s business manager looked at her monthly figures and saw that the number of enrolled members had increased by 5% over the budgeted amount, and that 1 in 3 of the total HMO members had used the dermatology services per month. Net monthly revenues of the dermatology clinic were budgeted at $260,000 but were actually $450,000. Monthly expenses for the clinic were budgeted at $200,000 but were actually $270,000. Prepare a monthly revenue, expense, and net income variance budget for the clinic. Are these variances favorable or unfavorable? Why?

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