a) From Table 12-3, the major budget variances for the current month are; insurance payment, managerial or professional and net salaries and revenues. One of these significant variations is favorable while the other two are not favorable. In this case, the only major…
The opposite is true in the case of unfavorable variance, where the amount set aside in the budget is less than the actual expenses to get met. For this case, the organization will experience budget deficit, and some items in the budget will get forgone or postponed unless borrowing or further funding get undertaken by the firm.
c) Some variances are usually nil or zero. This arises from the accurate budget estimation done by the organization. Favorable and unfavorable variances often result from an organization’s lack of the exact projection or rather forecasting on the accrual expense in its various variables, both patient and non-patient revenues. Other also arises from an organization’s failure to give the estimate on the exact value of the expenses, both personal and non-personal, and the income over or under expenses.
d) The possible primary cause of favorable variance is the organizations overestimation on the actual price of the particular variable. It can also arise as fall in the future price or cost of the particular variable, such that relatively the budgeted value is higher than the real value. As a result of this, the estimated value exceeds the actual value leading to a positive difference, which, in this case, is the favorable variance.
The possible primary cause of unfavorable variance is underestimation of the real future price of the particular variable, for example, net salaries and wages. The other possible cause is the increase in the future price or cost of the particular variable, such that the budgeted value is relatively lesser than the actual value. For these two cases, the amount set aside for the budget ends up getting lower than the real value of the variable, hence a negative difference, which results in unfavorable variances.
e) Positive variances are always favorable. This ...
Cite this document
(“Unit 2 module Assignment Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.net/nursing/794349-unit-2-module
(Unit 2 Module Assignment Example | Topics and Well Written Essays - 1000 Words)
“Unit 2 Module Assignment Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.net/nursing/794349-unit-2-module.
Paterson continues to report that a talented pianist has acquired gold during a nationwide search for the best young music talent. In fact the reporter says that Thomas Dobrovich has a golden tough when it comes to tickling the white and black piano keys.
The tasks mainly involve dealing with customer queries and other related issues to service delivery. Whilst we relate well with this person in the department, the general performance problem that we believe he has is that he often thinks that he is always right.
For example, the variable gender has two attributes- male and female. The variable agreement may have five attributes- (a) strongly agree, (b) disagree (c) neutral (d) agree and (e) strongly agree (Trochim, 2006). For studying
By what percentage would this change your answer? Would this percentage be smaller, larger or the same if someone started with a shorter list?
If each person added an extra contact than total number of all the contacts in all
Mean while, the population is growing in two different areas; urban and rural population, there is a need to provide the population with the food requirements. In the modern world most of the people tend to live in the urban
Many people who sympathized with the family saw the need for the emails to be released. The family had requested for the emails so as to gather some information on what would have happened to their son before he died. They believed
he analysis of various emerging markets, Mexico was selected as the preferred destination for the company to expand its business in the manufacturing and sale of the educational tablet computer for the younger generation aged 9 to 18 known as the Slate. A PEST analysis showed
Some of the notable companies that have become successful due to their top brands include Apple, Phillips and Coca-Cola. This paper seeks to discuss the product management and branding by comparing an iconic brand Apple, and another successful brand
3 Pages(750 words)Assignment
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Assignment on topic Unit 2 module for FREE!