# 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
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
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