Homework 7 Budget

Homework 7 Budget - Use the above information and the total...

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Cal Poly Pomona FMA 224 Financial Accounting Homework #7 Budgets Due: Tuesday, March 01, 2011 FMA 224 Variance Analysis Homework #7 Hospice Corporation Patient Total Month Days Cost Revenue % January 345 $16,500 $29,527 5.94% February 396 $18,900 $33,891 6.82% March 401 $19,050 $34,319 6.91% April 523 $21,100 $44,760 9.01% May 575 $24,600 $49,211 9.90% June 538 $21,060 $46,044 9.27% July 547 $22,710 $46,814 9.42% August 562 $23,850 $48,098 9.68% September 499 $21,010 $42,706 8.59% October 555 $22,400 $47,499 9.56% November 388 $17,400 $33,207 6.68% December 477 $18,790 $40,824 8.22% Totals: 5,806 $247,370 $496,901 100.0% Cal Poly Pomona FMA 324 Financial Accounting Homework #7 a.) What are Hospice Corporation fixed and variable costs are? b.) If Hospice plans to charge their patients $75.00 per patient day, is that amount sufficient for them to attain a profit of $225,000 per year with total patient days of 6,000. c.) Forecast the patient days and Total Costs per month for Hospice for the upcoming year.
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Unformatted text preview: Use the above information and the total patient days of 6,000, profit of $225,000 and the unit variable cost and total fixed costs determined in a and b above. Monthly Monthly Monthly Monthly Monthly Monthly MONTH TOTAL PATIENT DAYS MONTHLY % PATIENT DAYS TVC TFC TOTAL COST REVENUE PROFIT January 6,000 5.94% 345 $16,500 $29,527 February 6,000 6.82% 396 $18,900 $33,891 March 6,000 6.91% 401 $19,050 $34,319 April 6,000 9.01% 523 $21,100 $44,760 May 6,000 9.90% 575 $24,600 $49,211 June 6,000 9.27% 538 $21,060 $46,044 July 6,000 9.42% 547 $22,710 $46,814 August 6,000 9.68% 562 $23,850 $48,098 September 6,000 8.59% 499 $21,010 $42,706 October 6,000 9.56% 555 $22,400 $47,499 November 6,000 6.68% 388 $17,400 $33,207 December 6,000 8.22% 477 $18,790 $40,824 1 5,806 $247,370 $496,900...
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