The HIM department records copy fees as revenue. Year-to-date budgeted fees are $35,000 and actual fees are $23,000. The director may be asked to explain which variance?

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Prepare for the Healthcare Finance Exam. Use flashcards and multiple-choice questions, each with hints and explanations. Get ready for your exam!

Multiple Choice

The HIM department records copy fees as revenue. Year-to-date budgeted fees are $35,000 and actual fees are $23,000. The director may be asked to explain which variance?

The key idea is how to read a revenue variance: compare what was budgeted to what was actually earned. Here, actual fees are 23,000 and budgeted fees are 35,000, so the shortfall is 12,000. A revenue shortfall is unfavorable because it means the department earned less than planned, reducing available funds. The variance is 12,000, in the unfavorable direction.

The HIM department records copy fees as revenue. Year-to-date budgeted fees are $35,000 and actual fees are $23,000. The director may be asked to explain which variance?

Prepare for the Healthcare Finance Exam. Use flashcards and multiple-choice questions, each with hints and explanations. Get ready for your exam!

The HIM department records copy fees as revenue. Year-to-date budgeted fees are $35,000 and actual fees are $23,000. The director may be asked to explain which variance?

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