Posted: December 31st, 2020

Volume, Risk, and Price Variances, accounting Assignment: I need help writing a research paper.

Question description

Analyze the variances in the following scenario:You are the nursing administrator for a medical group that expects a severe outbreak of the flu this winter.  You hire additional staff to treat the patients and administer shots.  Your special project budget was for 1,000 hours of part-time nurses’ services at $40 per hour, for a total cost of $40,000.  It was expected that these nurses would administer 400 flu shots and treat 1,600 flu patients.  The medical group typically charges $50 for a flu shot and $80 for treating a flu patient. Actually, the group had 1,200 patients who received the flu shot and 1,400 who had the flu and received treatment.  On average, it was able to collect $55 per flu shot and $70 per flu patient. Compute the volume, mix, and price revenue variances.  How did things turn out for the group considering just revenues?  How did they turn out from a profit perspective? Use the approach from chapter 8 to solve.  Clearly label the calculations of the required variances using Excel.  Use formulas to calculate the three variances and format the cells to insert a comma if there is more than three numbers and round to the nearest whole number.  Explain the meaning of the variances in a two page Word document.Submit to two page Word document – Please show workPlease use reference belowFinkler, S. A., Purtell, R.M., Calabrese, T.D., & Smith, D.L. (2013). Financial management for public, health, and not-for-profit organizations (4th ed.).  Upper Saddle River, NJ: Pearson Prentice Hall. ISBN: 978-0-13-280566-7.

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