Miao Clinic Uses Client-Visits as Its Measure of Activity

question 19

Multiple Choice

Miao Clinic uses client-visits as its measure of activity.During July,the clinic budgeted for 3,000 client-visits,but its actual level of activity was 2,980 client-visits.The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for July: Data used in budgeting: Actual results for July: The spending variance for medical supplies in July would be closest to:

• A)$936 F
• B)$936 U
• C)$1,100 U
• D)$1,100 F

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Definitions:

Rights-On Period

A designated timeframe during which shareholders have the right to purchase additional shares at a predetermined price before the offering is open to the public.

Subscription Price

The cost that a customer pays, often on a regular basis, to receive a product or service.

Common Share Price

The price at which a corporation's common shares are bought and sold on the stock market.

Rights-On Period

A defined timeframe during which shareholders can purchase additional shares before the public.