Fill in Order Details

  • Submit paper details for free using our simple order form

Make Payment Securely

  • Add funds to your account. There are no upfront payments. The writer will only be paid once you have approved your paper

Writing Process

  • The best qualified expert writer is assigned to work on your order
  • Your paper is written to standard and delivered as per your instructions

Download your paper

  • Download the completed paper from your online account or your email
  • You can request a plagiarism and quality report along with your paper

FINANCE AND ECONOMICS IN HEALTH CARE DELIVERY

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
  • Show all your calculations and formulas in the spreadsheet.
  • 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%.

Note: Submit the Excel spreadsheet containing your Salary Variance Scenario calculations to the Assignment submission link.

Reviews


Anonymous

Excellent job, received an A+ (96) on the paper. Thank you so much.

Anonymous

On time and beyond the work I expected. Communication is fast and amazing, this is the only writing service I will be using.

Consider Your Assignments Done

“All my friends and I are getting help from eliteacademicresearch. It’s every college student’s best kept secret!”

Jermaine Byrant
BSN

“I was apprehensive at first. But I must say it was a great experience and well worth the price. I got an A!”

Nicole Johnson
Finance & Economics

See Why Our Clients Hire Us Again And Again!

OVER
10.3k
Reviews

RATING
4.89/5
Avg Rating

YEARS
12
Experience

Elite Academic Research Promises You:

Always on Time

If we are a minute late, the work is on us – it’s free!

Plagiarism-free

If the work we produce contains plagiarism we’ll pay out a £5,000 guarantee.

Quality

Providing quality work is core to our beliefs, which is why we will strive to give you exactly that, and more!

Written to Standard

All of our assignments go through a stringent quality checking process from start to finish.

Success Guarantee

When you order form the best, some of your greatest problems as a student are solved!

Reliable

Professional

Affordable

Quick

What our customers say
_____

Writer provided excellent layout and research assistance I needed in order to create my own essay.
Great service fast and friendly. Have used the team more than once for assistance with work of a high standard. Communications have been faultless and everything arriving by promised time line. Will definitely use again ! 5 star