Alex Has Become Stressed by His Tight Budget and Is

question 38

Multiple Choice

Alex has become stressed by his tight budget and is unwilling to stick to his financial plan.What action should he take?

• A)Establish his goals
• B)Re-evaluate his goals
• C)Implement the best plan
• D)Revise his plan

Evaluate revenue and expense variances in comparing actual results to budgeted figures.

Understand the concept of spending variance and how to calculate it for different categories (manufacturing overhead, refurbishing materials, other expenses, equipment depreciation, supplies costs, occupancy costs, employee salaries and wages, facility expenses, travel expenses, power cost, and medical supplies).

Identify and calculate the revenue variance for different months.

Calculate and analyze the variance for net operating income comparing actual results to the flexible budget for various months.

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Definitions:

Outcome Criteria

Specific, measurable goals set at the beginning of treatment to evaluate the effectiveness and success of the interventions over time.

Verbalize

The act of expressing thoughts, ideas, or feelings in spoken words.

Role Overload

The stress and inability to meet the demands of multiple roles in one's life, such as employee, parent, or caregiver.

Chronically Ill

Pertaining to a person suffering from a long-term illness or condition that negatively affects their daily life and may require ongoing management and care.