Homework 7 Budget

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

This preview shows page 1. Sign up to view the full content.

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.
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

## This note was uploaded on 11/21/2011 for the course PLT 411 taught by Professor Mathais during the Spring '11 term at Cal Poly Pomona.

Ask a homework question - tutors are online