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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 either the approach from chapter 8 or from Appendix 8-A
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 your instructor your two-to-three page Word document (not including
the title and reference pages) and your Excel worksheet. Your paper should be
formatted according to APA style as outlined in the approved APA style guide,
and you must cite at least two scholarly sources in addition to the
textbook.

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