Problem
You are preparing a supply budget and have the following information about the first seven months of the current fiscal year. During that time, your clinics have served 65,500 visits. For the budget year, you anticipate volume will be 175,000 visits. Inflation is expected to be 2%.
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Items
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Amount ($)
|
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Office Supplies (F)
Clinic Supplies (F)
Medical supplies (V)
Pharmaceuticals (V)
Small instruments (F)
Books & Periodicals (F)
Miscellaneous (F)
Total
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750,000
2,050,000
3,750,000
4,800,000
1,440,000
70,000
140,000
$13,000,000
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Calculate the total supply budget for the year after accounting for inflation (Hint: You will need to first figure out monthly costs, keeping in mind some costs are fixed "(F)" and some costs are variable "(V)").