All categories

3 years ago

Here are the 2015 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars):

Business

2 answers:

erastova [34]3 years ago

8 0

Answer: The answer is provided below

Explanation:

a). The revenue here shows that

Wendover's patients were capitated. The is because the actual revenue figures were assumed to be $180, but it

later came to $300 which means that the revenue increased.

The reason is that a capitated patient provides fixed payment a year, while a fee for service client pays per usage. With this explanation, it can be concluded that majority of Wendover's patients are fee for service because the difference between static results and the actual results is very high.

) 1. Revenue variance

= Actual Revenues - Static budget

= $ 300 - $ 425

= - $125

2. Volume variance

= Flexible Revenue - Static Budget

= $ 200 - $ 425

= - $ 225

3. Price Variance

= Actual Revenues - Flexible Revenues

=$300 - $200

= $100

4. Enrollment variance

= Flexible Revenues - Static Budget

= $ 180 - $ 425

= - $ 245

5. Utilization variance

= Flexible Revenue- Flexible Budget

= $ 200 - $ 180

= $ 20

Mariana [72]3 years ago

3 0

Answer:

Kindly check Explanation

Explanation:

The difference between capita tes and fee-for-service is how payment is made, In capitates, a fixed annual amount is paid whereby In fee-for-service, payment is made separately for each service demanded. Thus it could be concluded from the data they the patients are fee-for - service due to the difference in the static and actual figure provided.

Given the following :

Static Budget - $425

Flexible (Enrollment/ Utilization) -$200

Budget Flexible (Enrollment) Budget -$180

Actual Results - $300

Revenue variance = (Actual Revenues - Static Revenue)

Revenue variance = ($300-$425) = -$125 (Unfavorable)

This shows that the Wendover have less patients who use the services.

Volume variance = (Flexible Revenues (enrollment and utilization) – Static Revenues)

Volume variance = ($200 – $425) = -$225

Price variance = (Actual Revenues – Flexible Revenue)

Price variance = ($300 - $200)

Price variance = $100 F

Price variance is favorable which means service charge is high.

Enrollment variance = (Flexible Revenues (enrollment) – Static Revenue)

Enrollment variance = $180 – $425 = -$245

Utilization variance =Flexible revenues (enrollment/utilization) - Budget Flexible (Enrollment) Budget

$200 - $180 = $20

You might be interested in

Larry Mitchell invested part of his $ 24 comma 000 advance at 4 % annual simple interest and the rest at 7 % annual simple inter

mariarad [96]

Answer:

Amount invested at 4% is $14,000

Amount invested at 7% is $10,000

Explanation:

Data provided in the question:

Total amount invested = $24,000

Total yearly interest = $1,260

Now,

Let the amount invested at 4% annual simple interest be 'x'

Thus,

the amount invested at 7% annual simple interest will be $24,000 - x

Total interest earned = Interest at 4% + Interest at 7%

$1,260 = 0.04x + 0.07(24,000 - x)

$1,260 = 0.04x + 1680 - 0.07x

-420 = -0.03x

x = $14,000

Hence,

Amount invested at 4% is $14,000

Amount invested at 7% is (24,000 - 14,000) = $10,000

6 0

3 years ago

Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) Record liability, (b) D

const2013 [10]

Answer:

a) Disclose in the notes

b) no Disclosure

c) Record a liability

Explanation:

There are three scenarios to be considered

1) It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable

First, premise is that Huprey Co. is facing a lawsuit and the possibility of a loss is most possible. If Huprey Co is able to recognize the amount of loss, then he would have been able to record a liability but the inability to estimate the loss means, the company can o<u>nly make appropriate disclosure in notes</u>

2)Huprey is being used for damages of $2 million. It is very unlikely (remote) that Huprey will lose the case.

This second premise is also a lawsuit on damages for $2 million, however, it is most reasonably acceptable that Huprey will win the lawsuit. As such there is no loss, that way there will be no disclosure in Huprey Co's books.

3. Huprey can reasonably estimate that a pending lawsuit will result in damages of $1.25 million, it is probable that Huprey will lose the case.

The probability of losing a case means that there will be a loss to be recorded in the books and since the damages are already estimable to be $1.25 million. Huprey Co should record a liability

4 0

3 years ago

Workers who do not have the expectation of steady, full-time employment are called ________ workers.

Tems11 [23]

These workers are called contingent workers
Contingent workers are the type of workers that hired per-project basis. This make up Freelancers, consultants, or contractors.
Since technically these workers are not a part of the company, the company is not require to give benefit to them like its full-time workers.

7 0

3 years ago

A company is preparing financial statements using IFRS for the first time for the year ended December 31, 2018. The "transition

8_murik_8 [283]

Answer:

E. January 1, 2017

Explanation:

Financial statements are prepared showing at least two years for the sake of comparability.

It will be important for the company in presenting its financial statement using the IFRS for the year ended December 31st 2018 to show the financial statements for the year ended 31st December 2017 as if it had always applied the IFRS.

The basic idea is to show in the financial statements the effects of adopting the IFRS from a preceding period in order for the entity to show the financial statement for 2017 and 2018 and be able to compare them having been prepared on the same basis.

Thus, the transition date will be the beginning of the preceding period when the IFRS was applied (1st Jan. 2017 oe 31st Dec. 2016).

I hope this explanation makes the concept easy to grasp.

Thank you.

7 0

3 years ago

Employee morale at dos santos, inc., is very high. this type of informtaion is an example of:_______

Ad libitum [116K]

Employee morale at dos Santos, inc., is very high. this type of information is an example of <u>Qualitative Data</u>

<h3>Qualitative data: What are they?</h3>

Information that approximates and characterizes is what qualitative data are. Qualitative information can be observed and recorded. This particular data type is not numerical. This kind of information is gathered using focus groups, one-on-one interviews, observations, and similar techniques. In statistics, categorical data, or information that can be categorized based on the characteristics and traits of an object or phenomena, is often referred to as qualitative data.

It is frequently referred to as categorical data because qualitative data can be categorized.

Imagine a situation where a student reads aloud in class from a section of a book. A teacher who is listening to the reading offers feedback on the passage that the student read. An example of qualitative data is when a teacher gives feedback to a student without deducting points for fluency, intonation, word choice, or pronunciation clarity.

As a result, dos Santos, Inc. has exceptionally high employee morale. This kind of data is an illustration of qualitative data.

For more information on <u>Qualitative Data</u>, refer to the following link:

brainly.com/question/12929865

#SPJ4

3 0

1 year ago