This website uses cookies to ensure you have the best experience. Learn more

Investigating My First Variable Variance Report:

1082 words - 5 pages

Investigating my First Variable Variance Report:
Beginning the Road to Precision in Variable Planning
Oh, bemusing variance report! However will I explain to Bob Schuler, Hahnemann Hospitals’ vice president, the ineffectiveness of my plan, how my supplies came in under budget and salaries were overextended during my first thirty days in the department?! I had hoped the variance percentages would be consistent with the unexpected revenue created by the increased patient volumes we experienced last month - but that could only explain the salary end of things because supplies and procedures didn’t increase. Furthermore, since patient volumes increased, it would make sense that more supplies ...view middle of the document...

Despite the harrowing perseverance of inflation costs, did inflation take a long, tropical vacation - causing my supply costs to plummet and my estimates to be too high? I will simply pull up a list of all the supplies used last month and check to see how the input prices compared to the previous months’. Additionally, there is a direct relationship between the increase in relative value units (RVU’s) of treatment and the supply costs which, probably, could not explain my problem because it should already be accounted for (but inconsistent weighted measurements may explain why they needed someone else to run this department’s finances so I’ll check it). Inflation is still on the rise, so that’s not my current problem. Furthermore, I endeavor to create my first flexible budget model for this department but before I can do that I have to make sure all of the categories are separated “into price and utilization components (Cleverley, 2011, p. 391)” at the departmental level (while at it, I’ll check to see if the RVU’s are consistent at the facility-level for more insight moving forward with decision-theory, also because the cost of supplies in this department will change relative to patient volumes). But for now, the next thing I can check is the efficiency variance.
To make my life easier, Mr. Schuler should just be happy that money was saved on supplies this month and move on to the next problem but I know he’ll be concerned that the hospital’s commitment to excellence, in quality of care, may be jeopardized by a shortage in supplies; furthermore, it is my job. So, I need to verify the supply expense variances, myself, by using the following function: “Efficiency variances ([Ia – Ib] × Pb) (actual quantity – budgeted quantity) × budgeted price (Cleverley, 2011, p. 390).” This will help to determine whether or not each of the supplies was actually used efficiently. Additionally, there were some periods in time, during the month, when we had more staff than we needed (to administer the amount of supplies that were used) and I need to pinpoint when that was by investigating more diligently.
Based on...

Other assignments on Investigating My First Variable Variance Report:

Psyc3001 - Assignment 2

5786 words - 24 pages Janine Antoinette Quinto (z3422320) Rationale Early-stage breast cancer patients report high stress and possess elevated cortisol levels following surgery (McGregor, & Antoni, 2009; Antonova et al., 2011). Cognitive behavioural stress management (CBSM) was proposed by Michael H. Antoni et al. (2001; 2003) to facilitate post-surgery adaptation for women with early-stage breast cancer. It utilizes principles of cognitive behavioural

Fostering Physical Activity In Children Essay

1365 words - 6 pages the level of physical activity. Conversely, the dependent variance will be the health of the children, the relationships and the skills they develop later. The extraneous variable in this study will be parental involvement in encouraging the children to participate in physical activity when they are not at school. Since this variable can’t be controlled by the research, I don’t see it being a factor since the parents of the children live in close

Ki Title Dibo

7040 words - 29 pages Independent University, Bangladesh Semester: Spring 2016 Course Title: Business Research Methods Course Code: BUS 485 Section: 04 WORKING CAPITAL MANAGEMENT AND ITS EFFECT ON PROFITABILITY ON BANGLADESHI BANKS S/L | NAME | ID | MARKS | | | | Report | Presentation | VIVA | 01 | Md. Nazmul Amin Naser | 1321552 | | | | 02 | Indrajit Bhowmik | 1321401 | | | | 03 | Heaven John Dessai | 1321488 | | | | 04 | Mahbubur Rahman

Leader

8469 words - 34 pages been argued that to gain a clear picture of stressors it is important to disaggregate the population of womens. Unfortunately, there has also been a lack of research investigating stress among women from ethnic minorities’-5. Most of the studies have used a cross-sectional design and can therefore only provide a snapshot of work stress. Finally, most studies have measured stress using self-report questionnaires. Although questionnaires are a

Finance

1743 words - 7 pages generated barcoded assignment cover sheet in the drop box located in WF building (ground floor). All assignments should be submitted via turnitin and a turnitin report should accompany the assignment (Please note: Turnitin submission should precede physical submission and only the hardcopy will be marked). Penalty for late submissions: 10% of the mark obtained for each 24-hour delay including weekends. Page 1 of 6 QUESTION 1: VALUATION OF

Wine Regression

1758 words - 8 pages Applied Regression Analysis 41100-81 Christian Hansen Winter 2015 “I pledge my honor that I have not violated the Honor Code during this assignment.” Kataras, Peter Foltyn, Tom Erzen, Robert Scholl, Katie In order to begin we first had to gain a high level understanding of the 6000 observations that we were given. We ran descriptive statistics on all of the original variables after transforming the variable Color into a dummy

Stock Market Analysis Of Commercial Bank

1371 words - 6 pages identification -signs are in both negative- and price performances are quite close. Yields will then help us to calculate the beta value and to draw conclusions from them. VARIANCE The variance of a variable measures the volatility of the element. To calculate the variance four steps are required: • Calculation of average performance • Calculation of deviation from the mean square performance • Calculate the square of performance

Ratio And Financial Statement Analysis

2513 words - 11 pages firm. I have chosen one of the leading retail companies in the country (Higgins, 2011). This paper will carry out a financial analysis on Hamster Limited in order to have a comprehensive assessment about its financial health analysis. This paper will analyze and assess the financial environment in which the company operated. Through a comprehensive analysis, my objective is to understand the influence of financial factors in the firm and its

Fin515Firstproject

1096 words - 5 pages /66,001,000,000 =6.6% 178,000/88,908,000,000=.008% After operating margin analysis we can say that neither company has much left over after paying for variable costs of production such as wages, raw materials, etc. in this case company is going to left some portion of revenue after pay for debt, interest or other payments. Net Profit Margin Google Amazon 26.28%= $3.45 billion/ $18.10 billion -.27%= 241M/88.99B This figure is one of the first

Programming Final Assignmentv1.1

5415 words - 22 pages one code for make progress report. I have define in first expression if and then in bracket we can see I have defined four different condition and if all condition is true then the result will be otherwise it will execute else condition which contain result = “fail”. In this case && condition is very useful for us to run all four query at same time otherwise we need to write down “if and else” condition each subject which is very long process. If

Financial Analysis

3972 words - 16 pages report applies stochastic dominance and mean-variance methodology on comparing estimated price with realized price of auction items. Then this report investigates the ‘hot’ auction items and auction items failed to sell in this auction by statistical data, the result shows that there are around 15 items can be considered as a ‘hot’ item in auction and no item failed to sell in our observation. And then the report has a descriptive analysis about

Similar Documents

Neighborhood Crime Rates Essay

2544 words - 11 pages /African America, ect…) total crimes, and housing units (vacant, occupied). The categorical variables I am using are neighborhood, community (group of neighborhoods, direction (North, South, East, West), income level (above or below average), and crime rates (above or below average). The response variable will be the crime rate, and the explanatory will consist of my other quantitative and qualitative variables. Environment: The population for

Statistics Assignment

1044 words - 5 pages equal (round to 3 decimal places): 1.000 11.    Read section 4.4.1 in the book (Yakir, 2011).  Do the numbers in the table above (for the random variable) represent a data sample (Yes/No)? No 12.     In the random variable table shown above, the value in the second row represents the cumulative probability of the corresponding values in the first row (True/False) False 13.     The probability that a randomly selected value from

Unknown Essay

5042 words - 21 pages  efficiency variance 26) The difference between budgeted fixed manufacturing overhead and the fixed manufacturing overhead allocated to actual output units achieved is called the fixed overhead: A) production-volume variance B) flexible-budget variance C) combined-variance analysis D) efficiency variance 27) Which of the following cost(s) are inventoried when using variable costing? A) direct manufacturing costs B) fixed manufacturing costs C

Salem Telephone Essay

340 words - 2 pages Salem Telephone Company Managerial Accounting Case Study 1: Salem Telephone Company 96122050 96122051 96122052 96122073 96122085 96122088 96122092 Group 1 Through our study of Salem Telephone Company (STC), we’re going to answer that if Salem Data Services (SDS) is really a profitable business to keep by using break-even point analysis. Before we come out the final solution, let’s discuss SDS’ accounting report step by step. First, we