5/5

# Browse Over 10 Million Questions

Let Our Professionals Assist You With Research and Writing.

# FINANCE AND ECONOMICS IN HEALTH CARE DELIVERY

## Writernursing.com

Assignment: Using Variance Analysis in Decision Making
Having a budget is critical for the financial stability of an organization. Keeping track of how well the organization is actually adhering to the budget, and subsequent identification of why the budget numbers are being missed is equally important. Without this critical “why” piece, it is difficult to make the necessary adjustments to the budget or to organizational behavior that might be promoting overspending.

A good budget is built with thoughtful consideration of future costs and revenue. Though your budget is formulated with expected figures in mind, the actual resulting values may vary considerably. This variance–from projected to actual–can be a pleasant surprise or a fiscal nightmare and can make financial decision making difficult. Fortunately, variance analysis can enable management to determine why variance occurred and what can be done to mitigate its effects.

For those not comfortable with the use of Microsoft Excel, this week’s Optional Resources suggest several tutorials.

To prepare:

Review the information in this week’s Learning Resources dealing with variance analysis, how it is calculated, and how it can be used in decision making.
View the video Week 8 Application Assignment Tutorial: Variance Analysis, provided in this week’s Learning Resources.
Use the Week 8 Application Assignment Template, provided in this week’s Learning Resources, to complete this assignment. Carefully examine the information in each of the scenarios and provide the necessary calculations. Using this information will help you answer the questions.
By Day 7
Note: For those Assignments in this course that require you to perform calculations you must:

Use the Excel spreadsheet template for the Week 8 assignment
Answer any questions included with the problems (as text in the Excel spreadsheet).
A title and reference page are NOT needed in this assignment. Put your name and assignment at the top of the Excel spreadsheet.

Use the Week 8 Application Assignment Template for the Week 8 assignment

Salary Variance Scenario
For this Assignment run a variance analysis. Based on the information you obtain: assess the results of the analysis, suggest potential causes of the budget variances and an explanation for addressing the situation.

Using the following performance data calculate the volume adjusted labor rate variance and volume adjusted efficiency variance. Your Variable Expense Factor is 40% and your Volume Change Factor is 50%.

Variance Analysis
Name: Assignment:
A good budget is built with thoughtful consideration of future costs and revenue. Though your budget is formulated with expected figures in mind, the actual resulting values may vary considerably. This variance–from projected to actual–can be a pleasant surprise or a fiscal nightmare and can make financial decision making difficult. Fortunately, variance analysis can enable management to determine why variance occurred and what can be done to mitigate its effects.
Using the following performance data, calculate the volume adjusted labor rate variance and volume adjusted efficiency variance. Your Variable Expense Factor is 40% and your Volume Change Factor is 50%
Actual Budget
Salaries 345,000 413,000
Payroll Hours 11,000 9,500
Service Volume 75,000 150,000
Actual Budget .
Salaries 345,000 413,000
Payroll Hours 11,000 9,500
Service Volume 75,000 150,000
Actual Volume 75,000
Budget Volume 150,000
Variable Expense Factor 40%
Volume Change Factor -50%
Description Actual Budget Variance (Unfavorable)
Salaries 345,000 413,000 68,000
Paid Hours
Labor Rate
Labor Rate Variance \$0.00
Efficiency Variance \$0.00
Total Variance \$0
For this Assignment, run a variance analysis. Based on the information you obtain,assess the results of the analysis, suggest potential causes of the budget variances and an explanation for addressing the situation.
Sheet2
Sheet3

## “Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”

The post FINANCE AND ECONOMICS IN HEALTH CARE DELIVERY appeared first on Custom Nursing Help.

FINANCE AND ECONOMICS IN HEALTH CARE DELIVERY was first posted on August 4, 2019 at 1:58 am.

## Order a similar paper and get 15% discount on your first order with us

Dr. Thea Watson
98% Success Rate
“Hello, I deliver nursing papers on time following instructions from the client. My primary goal is customer satisfaction. Welcome for plagiarism free papers”
Always delivers in time.
John Doe
Designer
Dr. Thea Watson
98% Success Rate
“Hello, I deliver nursing papers on time following instructions from the client. My primary goal is customer satisfaction. Welcome for plagiarism free papers”
Always delivers in time.
John Doe
Designer
Dr. Thea Watson
98% Success Rate
"Hi, count on me to deliver quality nursing papers that meet your expectations. I write well researched papers in the fields of nursing and medicine".
Always delivers in time.
John Doe
Designer
Dr. Thea Watson
99% Success Rate
"A top writer with proven reliability and experience. I have a 99% success rate, overall rating of 10. Hire me for quality custom written nursing papers. Thank you"
Always delivers in time.
John Doe
Designer

### How Our Essay Writing Service Works

Fill out order details and instructions, then upload any files or additional materials if needed. Then, confirm your order by clicking “Place an Order.”

Your payment is processed by a secure system. We accept Mastercard, Visa, Amex, and Discover. We don’t share any informati.on with third parties

## The Writing Process

You can communicate with your writer. Clarify or track order with our customer support team. Upload all the necessary files for the writer to use.

## Recent Questions

### Describe your target population and the health behavior(s) that relate to the topic you have chosen.

CONCEPTS AND THEORIES OF HEALTH BEHAVIOR Assignment Overview The Session Long Project (SLP) is a progressive assignment that involves assessing a health behavior; researching and

### Choose two treatment goals you would begin working on and discuss the treatment outcomes you would expect.

Movie Evaluation Multicultural Counseling Paper: Students will view the movie My Big, Fat, Greek Wedding, and address multicultural issues from a counselor’s perspective.  The student

### Identify two points that would have more impact if they were accompanied by presentation aids during the delivery.

Presentation Pizzazz Objective Apply a range of techniques for creating different types of presentation aids Demonstrate how to incorporate presentation aids successfully into a speech

### Describe the contemporary issue and explain what external stressors are associated with this issue.

Research the range of contemporary issues teenagers face today. In a 500-750-word paper, choose one issue (besides teen pregnancy) and discuss its effect on adolescent

### Please explain why you chose this word and if you have experienced this type of situation before and what did feel about that situation?

nit 1  – Advanced Nur  Unit 1 Discussion – Advanced It is anticipated that the initial discussion response should be in the range of 250-300