Evaluate year to date variance for each category, Marketing Management

Assignment Help:

You are the manager of an intensive care unit. Today is April 1st, and the fiscal year began on July 1st. You work with a variable budget and have the opportunity to make changes to the current budget based on variance. You cannot go over the total budgeted amount assigned to you. Your budget is presented below.

 

Annual Budget

Expended in March

Expended Year to Date

Amount Remaining

Personnel

300,000

25,000

175,000

125,000

Overtime

50,000

0

50,000

0

Supplies

18,000

1,800

16,500

1,500

Travel

1,000

0

300

700

Equipment

5,000

0

5,000

0

Staff education

1,000

200

600

400

 


  Several factors that you must consider include:

1. A changing staffing pattern as a result of high acuity on your unit. Your care managers have requested permanent staff lines.

2. The risk manager wants you to purchase new "smart pumps." These are IV pumps that calculate and manage high risk medications in order to meet JCAHO safety standards. Right now there is a special price of $3, 000.00/per pump. The risk manager thinks 3 pumps is a good start.

3. Your prevalence rate of pressure ulcers is rising on the unit, wound care supplies are part of the unit supplies budget.     

4. Three of your best nurses want to attend a conference on high risk medications out of state in September. The registration fee is $300.00, and if you register now, the three can attend for $200.00 each. Projected travel costs are $500.00 each.

Case Study Questions:

In a paper format determine the following:

1.   How you will address these requests based on the budget print out.

2.   What expenses can be deferred to the new fiscal year.

  1. What budgeting area was your previous projections most accurate.
  2. What budgeting area was your previous projections most inaccurate.
  3. Year to date variance for each category.
  4. Factors that may have contributed to situations of being over budget as determined by variance. Steps that could be taken in the 4th quarter to adjust the budget.

Related Discussions:- Evaluate year to date variance for each category

Stages in new product development, Q.   Describe various stages in New Pro...

Q.   Describe various stages in New Product Development. O R Describe the steps in NPD process. Ans.:   The many stages in NPD are:- (1)   G enerating  Ne

Caselets, considering the cncept of product life cycle, where would ypu put...

considering the cncept of product life cycle, where would ypu put video games in their life cycle?

Analyze the economic & demograpic env. of himachal pradesh, study the envi...

study the environmental & economical trends prevailing in Himachal & prepare a business plan for launching a new product

What is psychographic or psychological segmentation, What is Psychographic ...

What is Psychographic or Psychological Segmentation? Psychographic/Psychological Segmentation: A Psychographic or Psychological characteristic taken as to inner character

Explain about the efficiency rationale for intermediaries, Explain about th...

Explain about the efficiency rationale for intermediaries. Efficiency rationale for intermediaries: Intermediaries occur within the process of exchange and they can enhan

Marketing and Brand Management, could you heap for the Marketing and Brand ...

could you heap for the Marketing and Brand Management final project module Kindly advise Regards,

Inerfa ce, What are sabmiller interfaces with loqgistics, marketing, distri...

What are sabmiller interfaces with loqgistics, marketing, distribution

Explain in brief about relational communications, Explain in brief about Re...

Explain in brief about Relational Communications   Orientation Explanation Information and promotion Communications ar

What is the aim of direct marketing, Question 1: (i). What is the aim ...

Question 1: (i). What is the aim of direct marketing? (ii). Explain briefly the features of direct marketing. (ii). Outline 4 reasons why direct marketing has beco

Product and services, Product & services Product is a complicated conc...

Product & services Product is a complicated concept that must be carefully defined. Since the first of the four marketing mix variables, it is frequently where strategic plann

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd