Fager Clinic uses client-visits as its measure of activity. During February, the clinic budgeted for 2,200 client-visits, but its actual level of activity was 2,250 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for February:Data used in budgeting: Fixed element per monthVariable element per client-visitRevenue - $68.20 Personnel expenses$32,300 $21.50Medical supplies 1,200 12.50Occupancy expenses 9,700 3.40Administrative expenses 5,000 0.10Total expenses$48,200 $37.50?Actual results for February: ?Revenue$156,210 Personnel expenses$80,445?Medical supplies$30,105?Occupancy expenses$16,800?Administrative expenses$5,015???The medical supplies in the flexible budget
for February would be closest to:
A. $29,436
B. $28,700
C. $29,325
D. $30,789
Answer: C
You might also like to view...
A company has a petty cash fund amount of $300. When replenished, it has petty cash tickets of $30 for gas expense, $33 for postage expense, $16 for supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for ________.
A) $91 B) $75 C) $63 D) $79
All of the following tests of controls will provide evidence that adequate computer virus control techniques are in place and functioning except
a. verifying that only authorized software is used on company computers b. reviewing system maintenance records c. confirming that antivirus software is in use d. examining the password policy including a review of the authority table
Finite loading is best suited for ______ capacity control decisions.
A. short-range B. medium-range C. long-range D. extended-range
A package of Supreme Security Software compares the software’s features against its competitors’ features. The result is a matrix with check marks and Supreme Security Software has more checks than its competitors. This approach to CVP demonstrates which of the following?
a. all-benefits approach b. points-of-difference approach c. point-summary approach d. competitive assessment approach