labor variance management – The Nursing Hub

Complete this brief Survey to review your understanding of the concepts
Please number your answers to correspond with the numbered questions.
This Survey is graded on your critical thinking.

Describe the difference in Capital and Operational budgeting. How does the manager go about “justifying” them?Is there a difference in how to justify?
Describe two sources of budget variance and how these sources might be monitored, investigated, and controlled.Identify at least three reasons to investigate a budget variance.
Discuss all of the pieces needed to calculate nursing hours per patient day.Where can you find national benchmarks for units like yours?
Define a fixed cost and a variable cost and give an example of each.

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