Student names:
Tips for this assignment:
Note the first variance has been done for you!
- A favorable budget variance refers to positive variances or gains;
- an unfavorable budget variance describes negative variance, meaning losses and shortfalls;and
- budget variances occur because forecasters are unable to predict the future with complete accuracy.
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- Complete the table below.
- Think, what is the variance for each item (percentage and number)?
- Note; when you are completing this table, you will only need to fill in the pink section which will be the difference between the budget and actual.
- Note; some of these numbers will be negative. The first variance has been done for you.
- You must explain your calculationsanswering the questions included after the table.
6 North – January 20XX | |||
Actual | Budget | Variance | |
Patient Days | 925 | 974 | 49 (-5%) |
Nursing Hours Per Patient Day | 8.2 | 7.5 | |
Nursing Assistant Hours per Patient Day | 3.57 | 3.26 | |
Salary and Benefits | $594,520 | $572,411 | |
Supplies | $29,153 | $32,366 | |
Other expenses | $47,157 | $47,737 | |
%Overtime to FTEs | 3.23% | 2.65% |
- What does the information about salaries and supply expenses tell you?
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- Is Nurse Nugyet over or under budget on each of the items
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- Are the variances explainable? Or, is Nurse Nugyet over budget with no justifications?
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- What additional information would be helpful when explaining variances?
- Clearly describes the health promotion/disease prevention problem specific to the target population.
- Explain how the selected problem applies to advanced practice in the student’s role option.
- Critically analyze the current literature related to interventions that address the problem related to communities from nursing, the sciences, and humanities.
- Select an appropriate health promotion/disease prevention theoretical framework that applies to the problem.
- Design an intervention to address the problem in the selected population/setting using appropriate epidemiological, social, and environmental assessments.
- Design an evaluation plan to measure efficacy of the proposed intervention
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