Course: ACT 5060 – Accounting for Decision Makers. Submitted to: Dr. Wonnell Submitted by: Daniel Castelblanco N01377525 7975 SW 86 St. Miami‚ FL 33143 Cell: (786) 546-5408 Date of Submission: September 7‚ 2012 Title of Assignment: Variance Analysis CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data‚ ideas
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Armendez | 2010-13706 HRIM 115 Assignment No. 8 on Variance Analysis 1) Holiday Hotel budgeted 1‚000 room sales for the week ended September 10. The estimated average price per room was $28.50. The actual average price per room was 20% greater than anticipated‚ while room sales in units were 10% less than forecasted. a) Required : Compute and analyze the Room Revenue variance as discussed in class. Give 2 possible causes for the revenue variance (i.e. Why was actual price greater than budgeted
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Part B: Week 3 or 4 Exercise 5.1. Now what is the expected value and variance of Y=5X-3 for each distribution? (Hint: Use the ‘Summary of the Laws of Expected Value and Variance’ slide in the lecture notes.) Exercise 5.3. Now assume the manager receives a daily salary of $200 plus $85 per car sold. What is the expected value and standard deviation of her salary? (Hint: Use the ‘Summary of the Laws of Expected Value and Variance’ slide in the lecture notes.) Exercise 5.4. Now assume the company managing
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LC•GC Europe Online Supplement statistics and data analysis 9 Analysis of Variance Shaun Burke‚ RHM Technology Ltd‚ High Wycombe‚ Buckinghamshire‚ UK. Statistical methods can be powerful tools for unlocking the information contained in analytical data. This second part in our statistics refresher series looks at one of the most frequently used of these tools: Analysis of Variance (ANOVA). In the previous paper we examined the initial steps in describing the structure of the data and explained
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Essay by Bereketeab Yacob Yohannes Budget and budgetary control has being dealt with in different ways in literature‚ but basically there has being critics on traditional budgetary control as new issues raised with current more unpredictable global internationalized world markets. Virtually conventional budgeting has roughly some categories of criticism‚ one being that budgets by the time they are used their assumption are out-dated especially in rapidly changing environments‚ the second recurrent
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Radiology is vital to the healthcare system‚ and an irreplaceable part of the care team in finding the cure pathway. Leaders play a significant role in the success of a radiology department. The supervisor in charge of the imaging department leadership has three responsibilities which are building a collaborative relationship with technologists‚ conducting periodic meetings‚ and financial management. The first responsibility of the leader in the radiology department is to establish a constructive
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BUDGETING AND BUDGETARY CONTROL . Budget A plan quantified in monetary terms and approved prior to a defined period of time‚ usually showing planned income to be generated and for expenditure to be incurred during that period‚ to attain a given objective. The preparation of budgets is not something that can be carried out by accountants alone. It requires the participation of many managers and other personnel to ensure that the plans for the forthcoming period are translated
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One of the biggest goals in radiology is to keep the patient safe. There are many different ways to insure that the patient is safe when it comes to taking the perfect X-ray. One of the biggest and first things that the radiographers should do is confirm that they have the right patient. After confirming the patients name and date of birth the radiographer would also confirm the body part that is injured. Depending on the body part size and mass the radiographer would than determine how to set
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and controlling of the project costs. The Project Manager and Project Sponsor will review the following earned value measurements: 1. Schedule Variance (SV) 2. Cost Variance (CV) 3. Schedule Performance Index (SPI) 4. Cost Performance Index (CPI) 5. To Complete Cost Performance Index (TCPI) 6. Estimated Actual Cost at Completion (EAC) Schedule Variance (SV) is a measurement of the schedule performance for a project‚ and is calculated by subtracting the Planned Value (PV) from Earned Value (EV)
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1. What is budgetary slack? What incentive do managers have to create budgetary slack? Budgetary slack is when “managers intentionally underestimate budgeted revenues or overestimate budgeted expenses in order to make it easier to achieve budgetary goals” (1020). Managers have an incentive to do this to give them a little more rope when dealing with the budget. By giving the budget some slack they can give themselves a little room in achieving their goals‚ rather than simply dealing with a hard
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