When Would a Variance Be Labeled as Favorable

question 124

Multiple Choice

When would a variance be labeled as favorable?

• A) When standard costs are equal to actual costs
• B) When standard costs are less than actual costs
• C) When expected sales are greater than actual sales
• D) When actual costs are less than standard costs

Understand the essential components of conducting research for evidence-based practice (EBP).

Identify appropriate research methods for different study designs.

Understand the potential of EBP to improve patient care and outcomes.

Recognize the role of historical figures in the development of nursing research and EBP.

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Definitions:

Reduce Health Care Costs

Efforts or strategies aimed at minimizing the expenses associated with medical care, including prevention, efficiency improvements, and policy reforms.

Managed-care Organizations

Health care entities that integrate the financing and delivery of medical services to subscribers, aiming to reduce unnecessary health care costs.

Containing Costs

involves measures or strategies employed to control, reduce, or keep expenses within certain limits or budgets.

Health Care Expenditures

The total amount of money spent on health care services, products, and medication by individuals, private entities, and governments.