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

How are insurance plans (including government payers) impacted by the decisions that patients and their doctors make?
November 28, 2020
Analyze the various perceptions of the health care system by discussing at least one perception from all four of the populations
November 28, 2020

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

Volume, Risk, and Price Variances
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

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