What causes variances in a budget at the end of a quater?
What causes variances in a budget at the end of a quater?
Homework Answers
What is Budget Variance: Budget Variance occurs when actual numbers comes different from numbers taken in forecast/plan/budget preparation because of inability of forecaster to foresee or predict future cost and revenue with complete accuracy.
Basically there are three primary causes of budget variance: unexpected/unmet expectations, errors and changing business conditions. Whereas there are two type of factors for budget variance-controllable factors or uncontrollable factors. Controllable factors are those factors which can be controlled like poor planning of budget or inaccurate labor cost. Uncontrollable factors are those which are external factors and not in control of organisation like war or natural disaster.
from leading and managing in nursing book exercise 12-15 identify major budget variances for the current...
from leading and managing in nursing book exercise 12-15 identify major budget variances for the current month. Are they favorable or unfavorable and what additional information would help to explain the variances? What are some possible causes for the variances? Are the causes you identified controllable by the nurse manager why or why not? Is a favorable variance on expenses always desirable why or why not? p 228 table 12-3 0n page 228 is used
Differentiate between Static Budget and Static Budget Variances.
Differentiate between Static Budget and Static Budget Variances.
Seminar Assessment 3 Explain what is a budget variance, what causes it and show an example...
Seminar Assessment 3 Explain what is a budget variance, what causes it and show an example of when it is favorable and unfavorable
Is it better to amend a budget or allow for budget variances? Why? Please cite your...
Is it better to amend a budget or allow for budget variances? Why? Please cite your sources.
6.22 types of budget variances Subdomain VI.G.3 Explain budget variances Subdomain IVA.3 Apply principles of healthcare...
6.22 types of budget variances Subdomain VI.G.3 Explain budget variances Subdomain IVA.3 Apply principles of healthcare finance for revenue management following types of budget variances by indicating if they are temporaryl permanent and favorable/unfavorable. 1. $7,500.00 for outsourced coding services to address backlog 2. $12,500.00 as a result of Assistant Director laid off in November 3. $500 for new computer needed to replace one that quit and was not repairable 4. $4,000.00 1st quarter record destruction postponed a quarter due...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to fill in. Units 10,000 9,000 ? Actual results Original (static) budget Flexible budget Flexible budget variances Favorable or unfavorable Direct materials 66,500 58,500 ? ? ? Direct labor 80,100 67,500 ? ? ? Variance overhead 9,700 9,000 ? ? ? Fixed overhead 224,500...
what causes a fund balance account to increase at years end ?
what causes a fund balance account to increase at years end ?
From Leading And Managing In Nursing Book From the current month budget variances: are they favorable...
From Leading And Managing In Nursing Book
From the current month budget variances: are they favorable or
unfavorable? what additional information would help you explain the
varinces? what are some possible causes for each variance? are the
causes controllable by the nurse manager, why or why not?
are favorable variances on expenses always desirable? why or
why not?
Statement of Operations Showing Profit and Loss From a Neighborhood Nursing Center: March 2018 Current Month Actual Year-to-Date Budget 1 2 0...
Volume variances examine differences between a.the static budget and actual costs. b.the static budget and the...
Volume variances examine differences between a.the static budget and actual costs. b.the static budget and the rolling budget. c.the flexible budget and static budget. d.None of these choices are correct.
please create an excel spreadsheet with calculations Problem 2: Flexible Budget and Variances Smith Company had...
please create an excel spreadsheet with calculations
Problem 2: Flexible Budget and Variances Smith Company had the following information available: Units Selling Price Variable Cost Per Unit Fixed Costs Budget 1,000 $60 $27 $24,000 Actual 1,100 $56 $28 $25,000 Required Prepare the static budget, actual income statement and flexible budget income statement. Calculate the sales volume variances and the flexible budget variances for each item on the income statement. Make sure your variances include favorable or unfavorable Write a brief...
Seminar Assessment 3 Explain what is a budget variance, what causes it and show an example of when it is favorable and unfavorable
6.22 types of budget variances Subdomain VI.G.3 Explain budget variances Subdomain IVA.3 Apply principles of healthcare finance for revenue management following types of budget variances by indicating if they are temporaryl permanent and favorable/unfavorable. 1. $7,500.00 for outsourced coding services to address backlog 2. $12,500.00 as a result of Assistant Director laid off in November 3. $500 for new computer needed to replace one that quit and was not repairable 4. $4,000.00 1st quarter record destruction postponed a quarter due...
From Leading And Managing In Nursing Book
From the current month budget variances: are they favorable or
unfavorable? what additional information would help you explain the
varinces? what are some possible causes for each variance? are the
causes controllable by the nurse manager, why or why not?
are favorable variances on expenses always desirable? why or
why not?
Statement of Operations Showing Profit and Loss From a Neighborhood Nursing Center: March 2018 Current Month Actual Year-to-Date Budget 1 2 0...
please create an excel spreadsheet with calculations
Problem 2: Flexible Budget and Variances Smith Company had the following information available: Units Selling Price Variable Cost Per Unit Fixed Costs Budget 1,000 $60 $27 $24,000 Actual 1,100 $56 $28 $25,000 Required Prepare the static budget, actual income statement and flexible budget income statement. Calculate the sales volume variances and the flexible budget variances for each item on the income statement. Make sure your variances include favorable or unfavorable Write a brief...
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