please answer both highlighted questions (3&4)

QUESTIONS 1. What is the state budget ance that is the difference between the signal budget and actuall ) for the Of coure, there's always the possibility that there's significant budges shortfall and that from the outses the Event was simply planned to have p er quality goods and Services than is presyen Is the Harmon would bewers the bulk of the responsables fol ywe boby Stevens, direct of the land o nce. In the end, you have a sospect for play--this particular mystery is likely to verandbu vou haven't ruled out selence To keep all of these posibilities in mind as you begin HARD DATA As you look the the responses to your emailed requests for information you recognize that much of the cost data incomplete m y expense haven't yet been paid from EAP Vou determine that the best place to start your analysis with the disastrous welcome dinner, since the hill has already been paid. Hopefully the dinner information will help you find out what went wrong The data you have to work with, at least forware as follows 2 Break down the state budget and into a volume wanance daxil d e for the dinner utdatha nces tell you 2. Break down the flexible budget variance into price and efficiency variances. What do these varices tell you Break down the price variance into a charge variance and an exchange variance. What do the anstell you! Note that the charge variance is based solely on the difference between the budgeted price and actual price (based on the currency rate used in the organization budget. The exchange variance is based solely on the difference between budgeted exchange rate and the exchange rate actually used in paying the invoice Based on your calculations, what is the primary source of the problems with the dinner! Whe appears to be directly responsible for the dinner failure Assuming that the problem behind the dinner is the generace of the EAPCS challenges this year, what recommendations would you make to avoid these problems in the future EPILOGUE Acal attendees: 1,234 Expected attendees: 1.220 Actual.cost per dinner ESM Budgeted cost per dinner: ('The hudt wit the beginning of December 2014.) Dinner costs in British pounds) were incurred on May 19, the day of the event Dinner costs were invoiced and paid in cames) on May 21 from BARC E S Daily mi pintechange rate information are listed in Table 1. Table 1. Daily Midpoint Exchange Rates Dane Cast allinures December 2014 E2579 Dec 2014 E25 2015 E35 It's June 2016, and work is going well. In May you had helped pull off a tremendous and euro-based access at the EAPC Annual Conference in Vilnius, Lithuania, and you were recently promoted Things have showed down biety in the full between the European coerence in Vilnius and the upcoming regional conferences which will take place in various places Europe in A t Astorlunch you the bili of taking the ret of the day of Then you receive a frantice phone call Maria Duval an EAPC volunteer, introduces herself quickly and then explains the si "I'm overseeing the Northwestern conference, and we decided to have it in London. Why did we have to choose London? We planned all the budet e we checked and re-checked the prices, the inviteit everything and this news wilde wat scher Leden die h e he some well came experience with where and the Last year's London conference failed much more grefully than it might have otherwise thanks to you. Could you help us here in the Northwest?" So called the e nt, and the manager comed that men price changes to effect on coce a year, in September IMA EDUCATIONAL CASE JOURNAL 2 VOL NDA 1. DECEMBER 2016 QUESTIONS 1. What is the state budget ance that is the difference between the signal budget and actuall ) for the Of coure, there's always the possibility that there's significant budges shortfall and that from the outses the Event was simply planned to have p er quality goods and Services than is presyen Is the Harmon would bewers the bulk of the responsables fol ywe boby Stevens, direct of the land o nce. In the end, you have a sospect for play--this particular mystery is likely to verandbu vou haven't ruled out selence To keep all of these posibilities in mind as you begin HARD DATA As you look the the responses to your emailed requests for information you recognize that much of the cost data incomplete m y expense haven't yet been paid from EAP Vou determine that the best place to start your analysis with the disastrous welcome dinner, since the hill has already been paid. Hopefully the dinner information will help you find out what went wrong The data you have to work with, at least forware as follows 2 Break down the state budget and into a volume wanance daxil d e for the dinner utdatha nces tell you 2. Break down the flexible budget variance into price and efficiency variances. What do these varices tell you Break down the price variance into a charge variance and an exchange variance. What do the anstell you! Note that the charge variance is based solely on the difference between the budgeted price and actual price (based on the currency rate used in the organization budget. The exchange variance is based solely on the difference between budgeted exchange rate and the exchange rate actually used in paying the invoice Based on your calculations, what is the primary source of the problems with the dinner! Whe appears to be directly responsible for the dinner failure Assuming that the problem behind the dinner is the generace of the EAPCS challenges this year, what recommendations would you make to avoid these problems in the future EPILOGUE Acal attendees: 1,234 Expected attendees: 1.220 Actual.cost per dinner ESM Budgeted cost per dinner: ('The hudt wit the beginning of December 2014.) Dinner costs in British pounds) were incurred on May 19, the day of the event Dinner costs were invoiced and paid in cames) on May 21 from BARC E S Daily mi pintechange rate information are listed in Table 1. Table 1. Daily Midpoint Exchange Rates Dane Cast allinures December 2014 E2579 Dec 2014 E25 2015 E35 It's June 2016, and work is going well. In May you had helped pull off a tremendous and euro-based access at the EAPC Annual Conference in Vilnius, Lithuania, and you were recently promoted Things have showed down biety in the full between the European coerence in Vilnius and the upcoming regional conferences which will take place in various places Europe in A t Astorlunch you the bili of taking the ret of the day of Then you receive a frantice phone call Maria Duval an EAPC volunteer, introduces herself quickly and then explains the si "I'm overseeing the Northwestern conference, and we decided to have it in London. Why did we have to choose London? We planned all the budet e we checked and re-checked the prices, the inviteit everything and this news wilde wat scher Leden die h e he some well came experience with where and the Last year's London conference failed much more grefully than it might have otherwise thanks to you. Could you help us here in the Northwest?" So called the e nt, and the manager comed that men price changes to effect on coce a year, in September IMA EDUCATIONAL CASE JOURNAL 2 VOL NDA 1. DECEMBER 2016