Week: FTE/Variance Assignment

Week: FTE/Variance Assignment
Week: FTE/Variance Assignment
FTE/Variance Assignment is due this week. See below and Course Resources for directions and grading rubric.
NR630_W4_FTEVariance_Calculations_Assignment_Guidelines RubricLinks to an external site.
Purpose
The purpose of this assignment is to provide learners with the opportunity to gain financial management skills by calculating full-time equivalents for a nursing unit and analyzing a variance scenario.
Outcomes
CO 8: Delineate effective resource management and fiscal responsibilities of the nurse executive. (PO 5)
Due Date: Sunday 11:59 p.m. MT at the end of Week 4
Students are given the opportunity to request an extension on assignments for emergent situations. Supporting documentation must be submitted to the assigned faculty. If the student’s request is not approved, the assignment is graded and a late penalty is applied as follows:
Monday = 10% of total possible point reduction
Tuesday = 20% of total possible point reduction
Wednesday = 30% of total possible point reduction
If the student’s request is approved, the student will be informed of the revised due date. Should the student fail to meet the revised due date, the assignment is graded and a late penalty is applied as follows:
Monday = 10% of total possible point reduction
Tuesday = 20% of total possible point reduction
Wednesday = 30% of total possible point reduction
Total Points Possible: 100
Requirements:
Week: FTE/Variance Assignment
Answer the questions and complete the calculations required for the two sections of the assignment.
Calculations of full-time equivalents (FTEs)
Variance analysis
Submit your answers on a Word document, with the heading of Week 4 Assignment. For the questions requiring a written response, please adhere to proper grammar and syntax, and provide references. For the questions requiring calculations, show all your work and follow the format that has been provided for the calculations in the lesson for Week 4.
Permalink:
Preparing the paper
Section One—Calculation of Full-Time Equivalents
Personnel Budget Case Study
Linda Watson has recently accepted a position as the assistant administrator for the department of nursing at St. Joseph Hospital. There have been both personnel and financial problems at St. Joseph Hospital, and recently, the Catholic Healthcare System purchased the hospital. Like Linda, all of the management staff is new. Linda’s first priority is to assist the nurse managers in preparing their cost centers’ personnel budgets for the coming fiscal year. She has decided to begin with the nurse manager on 1 West, a step-down nursing unit. Linda wants to do extensive data collection and create a solid base for making projections.
undefinedSuggest all the information Linda needs to collect to prepare a budget for 1 West; be sure to include background data on the unit itself as it relates to previous budgets, nursing staff, and the organization. In other words, summarize your approach to this Case Study—briefly state the organization’s goals (customer-service orientation) for the coming year, trends, any changes in trends that you may anticipate—such as growth in the patient population and the types of data that need to be collected in order to make decisions about staffing levels and ratios.
undefinedLinda has collected the following information, in addition to what was asked in question number one:
Patient Data:
Average Daily Census 30
Unit Capacity 32
Average HPPD 8.8
Total Care Hours 96,360
Staff Data:
Productive hours/employee/year 1,780
Nonproductive hours/employee/year 300
Total Hours/employee/year 2,080
Skill Mix:
RNs 80%
LVNs 10%
Nurse aides 10%
Average Salary per Employee Category:
RN $40.00/hour
LVN $22.00/hour
Nurses Aide $14.00/hour
Calculate the number of productive full-time equivalents (FTEs) that would be needed. Show your calculations.
3. How many RNs, LVNs, and nurses aides will be needed to staff this unit, assuming staff will be working 12-hour shifts? In other words, how many person-shifts will be required during a 24-hour period?
Day Shift 50%
Night Shift 50%
4. Assign staff by type and by shift.
Day Shift 50%
Night Shift 50%
5. Convert staff positions to FTE positions.
Section Two—Variance Analysis
Variance Analysis Case Study
During the month of February, an outpatient surgery clinic has incurred a significant unfavorable variance. The director of the clinic is quite concerned, as this has never occurred before. The director gathers information on total nursing care hours, average hourly rate of the employees, and total patient visits to determine what caused the variance. In addition, the director receives the patient acuity levels for the month of February.
BPi $40.00
BQi 5.0 hours per care per patient
BQo 340 visits
APi $45.00
AQi 5.6 hours per care per patient
AQo 400 visits
1. undefinedCompare the original budget to the flexible budget and calculate the volume variance. Compare the flexible budget to the actual budget and determine the price and quantity variances. Work through the entire analysis process as presented in your lesson for Week 4, and remember to show your calculations.
2. What factors caused the difference in the variances? Analyze all the factors that made the differences and why the variances occurred.
Rubric
Week 4: FTE/Variance Rubric (NOV18)
Week 4: FTE/Variance Rubric (NOV18)
Criteria Ratings Pts
This criterion is linked to a Learning OutcomeBackground Information
15.0 ptsBackground information for budget analysis is thoroughly and clearly identified and stated. 13.0 ptsBackground information for budget analysis is partially identified and stated, but could be more thorough or clear. 12.0 ptsBackground information for budget analysis lacks thorough and clear statements. 6.0 ptsBackground information for budget analysis is minimally identified and stated. 0.0 ptsBackground information for budget analysis is not identified or stated.
15.0 pts
This criterion is linked to a Learning OutcomeCalculation of Full-Time Equivalents (FTEs)
10.0 ptsCalculation of FTEs is correct. 0.0 ptsCalculation of FTEs is incorrect.
10.0 pts
This criterion is linked to a Learning OutcomeShifts Required During a 24-Hour Period
10.0 ptsShifts required during a 24-hour period are correctly calculated. 0.0 ptsShifts required during a 24-hour period are incorrectly calculated.
10.0 pts
This criterion is linked to a Learning OutcomeStaff Assigned by Type and Shift
10.0 ptsStaff assigned by type and shift are correctly calculated. 5.0 ptsStaff assigned by type is correctly calculated; staff assigned by shift is incorrectly calculated. Staff assigned by type is incorrectly calculated; staff assigned by shift is correctly calculated. Suggest: One of the following is not correctly calculated: staff assigned by type or staff assigned by shift. 0.0 ptsBoth staff assigned by type and by shift are not correctly calculated.
10.0 pts
This criterion is linked to a Learning OutcomeStaff Positions to FTEs
10.0 ptsCalculation of staff positions to FTEs is correct. 0.0 ptsCalculation of staff positions to FTEs is incorrect.
10.0 pts
This criterion is linked to a Learning OutcomeCalculation of Volume Variance
10.0 ptsCalculation of Volume Variance is correct. 0.0 ptsCalculation of Volume Variance is incorrect.
10.0 pts
This criterion is linked to a Learning OutcomeCalculations of Price and Quantity Variance
10.0 ptsCalculation of Flexible Budget Variance is correct. 0.0 ptsCalculation of Flexible Budget Variance is incorrect.
10.0 pts
This criterion is linked to a Learning OutcomeCalculation of Total Variance.
10.0 ptsCalculation of Total Variance is correct. 0.0 ptsCalculation of Total Variance is incorrect.
10.0 pts
This criterion is linked to a Learning OutcomeAnalysis of Variances
15.0 ptsAnalysis of variances is thoroughly and clearly identified and stated. 13.0 ptsAnalysis of variances is adequately identified and stated. 12.0 ptsAnalysis of variances is partially identified and stated. 6.0 ptsAnalysis of variances is minimally identified and stated. 0.0 ptsAnalysis of variances is not identified and stated.
15.0 pts
This criterion is linked to a Learning OutcomeLate Deductions
0.0 pts0 pts lost – submission met deadline 0.0 ptsStudent does not meet the deadline for submission 10% per day up to 30% total (3-days)
0.0 pts
Total Points: 100.0

So much stress and so little time? Take care of yourself: let us help you with your task on
Week: FTE/Variance Assignment
Get a 20% Discount on this Paper
Get Help Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with Do My Homeworkk
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Chemical Engineering
Amazing. The writer delivered the draft earlier than expected, lol. I am pleased with the work; I hope my supervisor will like it too.
Customer 452443, September 1st, 2021
Education
Looks good. Thank you!
Customer 452523, September 27th, 2022
Economics
Thank you!
Customer 452493, March 16th, 2022
Economics
Although the paper did not make it at the requested time, the writer did reach out to me and asked for a short extension which I was okay with.
Customer 452493, March 16th, 2022
Leadership Studies
This is great! Thanks a bunch
Customer 452485, March 1st, 2022
Other
THANK YOU SO MUCH!
Customer 452493, May 16th, 2022
Nursing
Great services.
Customer 452443, November 22nd, 2021
Management
Job done to satisfaction. Thank you!
Customer 452443, October 31st, 2021
Economics
Thank you - much appreciated!
Customer 452493, April 2nd, 2022
Classic English Literature
Much appreciated - thank you very much!
Customer 452493, April 13th, 2022
Nursing
A well-researched paper. Delivered before the deadline as well. Extremely pleased !!
Customer 452445, August 20th, 2021
Finance
Excellent. Thnk you
Customer 452443, October 22nd, 2021
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Order your essay today and save 15% with the discount code ESSAYHELP