Consider the following 2008 data for Newark General Hospitals (in millions of dollars
Simple Budget_______Flexible Budget_ Actual Budget__
Revenue______$4.7$____4.8_____$4.5____…
Cost___________4.1___4.1 ___4.2_______
Profit__________0.6____0.7____ 0.3__________
a) Calculate and interpret the two revenue variances
b)Canculate and interpret the two revenue variances.
c)Calculate and interpret the two cost variances
d)How are the variances related?