Prepare an analysis of the budget variances for revenues

Question

Response to the following problem:

Right place Hospital supplies you with the following information relating to the 20X1 operations of one of its nursing units:

                                               Actual            Budget

Revenues                              $753,300              $750,000

Expenses                                502,200               500,000
                                                                     
Patient days of service                9,300                  10,000

Required: Prepare an analysis of the budget variances for revenues and expenses for 20X1.