Budgeting and Variance Analysis

CATEGORY

EXCELLENT – above expectations

GOOD – met expectations

FAIR – below expectations

POOR – significantly below expectations or missing

SCORE

Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable?

(10 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(9–10 Points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(8 points)

Response is incorrect but appropriately shows how the response should be calculated.

(7 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable?

(10 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(9–10 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(8 points)

Response is incorrect but appropriately shows how the response should be calculated.

(7 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Determine the service-related variance for Surgical Volume.

(8 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(8 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(7 points)

Response is incorrect but appropriately shows how the response should be calculated.

(6 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Determine the service-related variance for Patient Days.

(8 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(8 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(7 points)

Response is incorrect but appropriately shows how the response should be calculated.

(6 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Prepare a flexible budget estimate. Present the side-by-side budget, flexible budget estimate, and the actual Surgical Revenues.

(8 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(8 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(7 points)

Response is incorrect but appropriately shows how the response should be calculated.

(6 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Prepare a flexible budget estimate. Present the side-by-side budget, flexible budget estimate, and the actual Patient Expenses.

(8 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(8 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(7 points)

Response is incorrect but appropriately shows how the response should be calculated.

(6 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Determine what variances are due to change in volume and what variances are due to change in rates.

(8 points possible)

Response is correct and appropriately and accurately shows how the response was determined.

(8 points)

Response is correct but fails to appropriately and accurately show how the response was determined.

(7 points)

Response is incorrect but appropriately shows how the response should be calculated.

(6 points)

Response is incorrect and does not appropriately and accurately show how the response should be calculated.

(0 points)

Instructor comments:      

Total Score (60 possible points):

      points