Finance for Healthcare

AssignmentNumeric Problems  (2 @ 10 = 20)1.     Last year the price for thermometer covers in a pediatrician’s office was $.05 each. This year, the covers cost $.06 each. If the office purchased 10,000 thermometer covers this year, what is the price variance?2.     Using the information in the table below, calculate the amount of the favorable price variance.BudgetedActualVolume200,000190,000Cost per unit$40$37Cost$8,000,000$7,030,000Short Answer Problems (1 @ 10 = 10)3.     When would it make sense to use a flexible budget as compared to a forecast budget?Multiple Choice Problems (4 @ 5 = 20)4.     ________________ is a phase of management that is longer than budgeting, but shorter than planning.A.  ProgrammingB.  AccountingC.  OperatingD.  None of the above5.     Budgets normally cover a period of:A.  5 yearsB.  2 yearsC.  3 yearsD.  1 year6.     Which of the following is part of a statistics budget?A.  Output expectationsB.  Responsibility for estimationC.  Estimation methodologyD.  All of the above7.     The following is an example of a _____________ budget:“The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy.”A.  rollingB.  flexibleC.  forecastD.  fixed