Problem 1: Please define and explain the following type of expenses and give an example of a business activity from your profession that may change the amount of variable expenses with each definition.
a) Variable expense:
b) Fixed expense:
d) Semi variable or Mixed expense:
Problem 2: Please identify if you would assign each of the following accounts as fixed, variable, or mixed and why.
a) Revenue:
b) Rent:
c) Supplies:
d) Labor positions:
- RN bedside
- Respiratory therapist
- Charge Nurse
- Nurse Manager
- Why is it important to know and understand each classification during the budget process?