using Table 11.7, Chapter11.xlsx, calculate price, efficiency, intensity, and volume variances for the month of June if the variance is more than $5000 and 5% above or below the budget. Discuss significant changes between June and YTD performance, that is, which line items are moving closer or away from their budget targets?
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Table 11.7 - Monthly Variance Report June 2018 $30,000 184,167 3,000 34,000 16,613 25,250 10,858 2,389 2,129 1,500 852 4,897 $ Variance $1,256 12,166 -35 -7,103 1,024 351 669 278 84 -484 $ Variance ($3,457) 130,642 5,833 -47,885 10,175 -1,643 June 2018 $31,256 196,333 2,965 26,897 17,637 25,601 11,528 2,667 2,213 1,016 859 5,269 458 713 102 599 235 510 12,000 3,017 595 296 $342,766 6,651 7 Object YTD Actual YTD Budget Code Description 2018 2018 4010 Management & derical $176,543 $180,000 4020 Staff salaries & wages 1,235,642 1,105,000 4040 Overtime 23,833 18,000 4050 Agency & Temporary 156,115 204,000 4110 FICA 109,855 99,680 4120 Health insurance 149,857 151,500 4130 Retirement 71,801 65,150 4140 Unemployment 15,796 14,333 4210 Floor Medications 13,589 12,775 4212 Medical instruments 5,798 9,000 4214 Bandages, gauze... 5,643 5,110 4216 Latex gloves, gowns... 32,145 29,383 4218 Sterile wipes 2,659 2,555 4250 Office supplies 4,268 4,599 4280 Cleaning supplies 569 500 4350 Biomedical repairs/mainten: 3,869 3,000 4410 Electricity 1,156 1,200 4440 Telephone 2,645 2,880 4930 Housekeeping 72,000 72,000 4940 Travel/prof meetings/meals 14,523 17,850 4950 CME 4,600 4960 Other expenses 1,258 1,655 $2,103,252 $2,004,769 % Variance 4.2% 6.6% -1.2% -20.9% 6.2% 1.4% 6.2% 11.6% 3.9% -32.3% 0.9% 7.6% 7.6% -7.0% 22.4% 19.8% 17.5% 6.3% 0.0% 1.4% -22.4% 7.3% 2.6% 1,463 814 -3,202 533 2,762 104 372 % Variance -1.9% 11.8% 32.4% -23.5% 10.2% -1.1% 10.2% 10.2% 6.4% -35.6% 10.4% 9.4% 4.1% -7.2% 13.8% 29.0% -3.7% -8.2% 0.0% -18.6% -19.8% -24.0% 4.9% 426 32 -54 -331 69 869 35 -44 767 83 500 200 480 12,000 2,975 767 0 42 -172 20 $8,637 -235 0 -3,327 -912 -397 $98,483 3,688 276 $334,128 $ Variance (5) June 2018 108 531 920 8174 81 672 June 2018 108 536 920 7790 83 850 % Variance 0.0% -0.9% 0.0% 4.9% -2.4% -20.9% Statistics Admissions (Output) Patient days (Activity) Mgt & clerical hours (Input) Staff hours (Input) Overtime hours (Input) Agency hours (Input) YTD Actual YTD Budget 2018 2018 678 650 3,295 3,213 1040 1040 51378 46743 662 497 3903 5100 $ Variance % Variance 28 4.3% 82 2.6% 0.0% 4,635 9.9% 165 33.2% (1,197) -23.5% 384 - (2) (178) Table 11.7 - Monthly Variance Report June 2018 $30,000 184,167 3,000 34,000 16,613 25,250 10,858 2,389 2,129 1,500 852 4,897 $ Variance $1,256 12,166 -35 -7,103 1,024 351 669 278 84 -484 $ Variance ($3,457) 130,642 5,833 -47,885 10,175 -1,643 June 2018 $31,256 196,333 2,965 26,897 17,637 25,601 11,528 2,667 2,213 1,016 859 5,269 458 713 102 599 235 510 12,000 3,017 595 296 $342,766 6,651 7 Object YTD Actual YTD Budget Code Description 2018 2018 4010 Management & derical $176,543 $180,000 4020 Staff salaries & wages 1,235,642 1,105,000 4040 Overtime 23,833 18,000 4050 Agency & Temporary 156,115 204,000 4110 FICA 109,855 99,680 4120 Health insurance 149,857 151,500 4130 Retirement 71,801 65,150 4140 Unemployment 15,796 14,333 4210 Floor Medications 13,589 12,775 4212 Medical instruments 5,798 9,000 4214 Bandages, gauze... 5,643 5,110 4216 Latex gloves, gowns... 32,145 29,383 4218 Sterile wipes 2,659 2,555 4250 Office supplies 4,268 4,599 4280 Cleaning supplies 569 500 4350 Biomedical repairs/mainten: 3,869 3,000 4410 Electricity 1,156 1,200 4440 Telephone 2,645 2,880 4930 Housekeeping 72,000 72,000 4940 Travel/prof meetings/meals 14,523 17,850 4950 CME 4,600 4960 Other expenses 1,258 1,655 $2,103,252 $2,004,769 % Variance 4.2% 6.6% -1.2% -20.9% 6.2% 1.4% 6.2% 11.6% 3.9% -32.3% 0.9% 7.6% 7.6% -7.0% 22.4% 19.8% 17.5% 6.3% 0.0% 1.4% -22.4% 7.3% 2.6% 1,463 814 -3,202 533 2,762 104 372 % Variance -1.9% 11.8% 32.4% -23.5% 10.2% -1.1% 10.2% 10.2% 6.4% -35.6% 10.4% 9.4% 4.1% -7.2% 13.8% 29.0% -3.7% -8.2% 0.0% -18.6% -19.8% -24.0% 4.9% 426 32 -54 -331 69 869 35 -44 767 83 500 200 480 12,000 2,975 767 0 42 -172 20 $8,637 -235 0 -3,327 -912 -397 $98,483 3,688 276 $334,128 $ Variance (5) June 2018 108 531 920 8174 81 672 June 2018 108 536 920 7790 83 850 % Variance 0.0% -0.9% 0.0% 4.9% -2.4% -20.9% Statistics Admissions (Output) Patient days (Activity) Mgt & clerical hours (Input) Staff hours (Input) Overtime hours (Input) Agency hours (Input) YTD Actual YTD Budget 2018 2018 678 650 3,295 3,213 1040 1040 51378 46743 662 497 3903 5100 $ Variance % Variance 28 4.3% 82 2.6% 0.0% 4,635 9.9% 165 33.2% (1,197) -23.5% 384 - (2) (178)
