Week 7 Converting Static Budget to a Flexible Budget Discussion Paper Use the Excel spreadsheet located in this Week’s Books and Resources to convert the s

Week 7 Converting Static Budget to a Flexible Budget Discussion Paper Use the Excel spreadsheet located in this Week’s Books and Resources to convert the static budget presented in Column C to a Flexible Budget. Put the Flexible budget in Column E. In Column F, explain how you converted each line item. Remember the relationship of various costs to volumes.Length: 1 completed static Excel budget on the template provided Using the data in Column C, Static Budget
Develop the Cost/Volume relationship
which will be used to prepare a Flexible Budget
in Column E, based on the new volumes reported in Column E.
ABC Hospital
Annual Budget FY 2018
Static
Budget
Patient Days
20,000.00
Revenue Per Day
$7,000
Net Patient Revenue
Expenses
Salaries
Fixed
Variable
Semi-Fixed
$140,000,000
Adjust 2% or each 5% change in volume
Total Salaries
Benefits
$65,000,000.00
25% of Salaries
Supplies
Fixed
Variable
Semi-Fixed
Total Suppplies
$16,250,000.00
$2,000,000.00
$12,500,000.00
$1,500,000.00
Adjust 3% for each 5% change in volume
Interest
Fixed
Variable
Semi-Fixed
$16,000,000.00
$10,000,000.00
Total Interest Expense
Depreciation
Fixed
Variable
Semi-Fixed
$25,000,000.00
$15,000,000.00
$25,000,000.00
$10,000,000.00
$7,500,000.00
Adjust 10% for every 20% change in volume
$7,500,000.00
Total Depreciation Expense
Insurance
Fixed
Variable
Semi-Fixed
$15,000,000.00
$4,000,000.00
Adjust 10% for every 20% change in volume
$2,000,000.00
Total Insurance Expense
$6,000,000.00
General
Fixed
Variable
Semi-Fixed
$5,000,000.00
$2,500,000.00
$2,500,000.00
Total General Expense
Total Expenses
Excess of Revenue over Expenses
Adjust 3% for each 5% change in volume
$10,000,000.00
$138,250,000.00
$1,750,000.00
Flexible
Budget
25,000.00
$7,000.00
Explantions

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