Problem: Here are the 2021 revenues for Nu-Kim Radiology for four different budgets:
| Static Budget |
Flexible Enrollment & Utilization Budget |
Flexible Enrollment Budget |
Actual Results |
| $300,000 |
$340,000 |
$280,000 |
$310,000 |
1) Calculate the following:
a. Revenue Variance
b. Volume Variance
c. Price Variance
d. Enrollment Variance
e. Utilization Variance
2) Interpret each variance:
a. Revenue Variance
b. Volume Variance
c. Price
d. Enrollment Variance
e. Utilization Variance
f. Overall