Competition Bikes Budgeting and Variance Analysis Report
Western Governor’s University
Competition Bikes Budgeting and Variance Analysis Report Competition Bikes, Incorporated (Inc.) makes bicycles for professional and other highly accomplished riders who compete in bike races, biathlons, and triathlons. Approximately sixty percent of all race winners have been victorious using bicycles designed by Competitions Bikes, Inc. This extraordinary success rate is a topic of conversation among racers and has led to exponential success for founder Larry Ferguson who formed the company in 2001 in his garage. Competition Bikes is known for quality products and is leader in the market with the CarbonLite
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Even the slightest inaccuracy of sales forecasting and potential revenue amounts can skew other pertinent schedules which inevitably compromises the master budget plans.
Budget Planning Concerns Continued Another concern identified, is the utilities expense budget for utilities in Year 9 which is $150,000. This amount is identified as a fixed amount and is unrelated to actually production activities and manufacturing efficiency. Considering that production levels and activity fluctuates throughout the year, the budget for utilities should be a variable item. An example; from Year 7 to Year 8, the utilities expenses increase by $15,000 and with this detection, ways to reduce this expense should be investigate. Another concern is a duplicated line item under the Selling, General, and Administrative Budget for Utilities and Utilities and Services. Another issue for concern, Total Variable Cost was reported to be lower; however was not enough for the lack of sales combined with an increase in advertising and transportation which resulted in an overall negative result. The low Net Sales directly impacted the Contribution Margin which decreased by $49,397. Overall, these concerns indicate the need for a flexible budget with variance analysis.
Flexible Budget A flexible budget can be used to forecast a range of production possibilities, or it can be used to assess how well the company met the budget plan based
Preparing for The Joint Commission, Nightingale Community Hospital reviews areas of compliance and non-compliance. A periodic performance review, which is a self-evaluation, is utilized by Nightingale Community Hospital, to prepare for The Joint Commission. The Joint Commission has eighteen accreditation requirements. (Commission, 2013) The periodic performance review found the hospital to be compliant and non- compliant in the following areas:
| The business itself does not retain any profits. 100% of profits remain with the owner and is considered personal income.
The Joint Commission is scheduled to visit Nightingale Community Hospital for its triennial accreditation survey within the next 13 months. The purpose of this document is to provide senior leadership with an outline of the hospital’s current compliance status in the Priority Focus Area of Communication. Recommendations for corrective action are included in this document which are designed to bring the organization into full compliance in the areas where deficits have been identified.
Florence Nightingale, considered the founder of modern nursing, first began to establish nursing as a profession during the Crimean War. Since then, nursing theorists have continued to expand on the thought that patients are made up of more than just the symptoms they present with, Abraham Maslow, Carl Jung, Dr. Larry Dossey and Dorothy Johnson, but none more so than Jean Watson. She developed a theory of human caring that contained several core concepts, these concepts lay forth the ground work for how we, as nurses, should care for a patient. These concepts included transpersonal caring relationships (going beyond ego to higher “spiritual” caring
Nestled in Southern Indiana just west of Louisville, Kentucky and south of Indianapolis, Indiana is Dubois County, Indiana. Dubois County is comprised of the towns of Birdseye, Ferdinand, Holland, Huntingburg and Jasper. Of those towns, Jasper is the largest and is the county seat (Kelly School of Business, 2014). Over fifty-two percent of the population consists of adults ranging from 25-64 years of age (Kelly School of Business, 2014). The leading cause of mortality in this county is heart disease, cancer, suicide and injuries (Memorial Hospital and Health Care Center & Dubois County Health Department, 2011).
In September of 2012, beginning in the country of Saudi Arabia, hospitals began seeing increased cases of a respiratory virus never before seen in humans. They named it Middle East Respiratory Syndrome, or MERS. MERS is a viral respiratory illness caused by the coronavirus. It was originally thought to have started there in Saudi Arabia. It was not until later that they were able to trace the origin back to Jordan starting in April of 2012. All outbreaks of MERS have been traced back to originating from the Arabian Peninsula (CDC, 2015a). Unfortunately, it is not known exactly how MERS was contracted in humans, but it is believed to have come from an animal source, probably from camels. Strains of MERS
Embrace new technologies to improve efficiency, maintain environmental stewardship through green practices and sustainable operations, support continuous improvement of the business processes, develop employees’ capability, and provide excellent customer services.” (Hillsborough County, 2015)
These are often for local newspaper ads. The downside to the supplier is that their competitor may also offer an advertising allowance and receive a more desirable location within the ad. This is something that would have to be clearly negotiated.
Planning is a function that is employed by every organization in projecting the future outcome of the firm. Successful firms achieve their goals through the use of different types of budgets. These budgets include, production budget, sales budget, labor budget and expenses budget. These budgets also show the targets that should be achieved by the firm within the budgeted time plan.
Take each bag of popped popcorn and count the individual kernels that did not pop and record the data on the chart. Perform this for each
Type of event, training, or exercise: (actual event, table top, functional or full-scale exercise, pre-identified planned event, training, seminar, workshop, drill, game, etc.)
mitigate these points assessments will be made in how to best mitigate the failure and what would need to be done to
| Not being able to respond to consumer wants/demands quickly enough, leading to short-term revenue loss
I chose to study and analyze J.M.W. Turner’s Slave Ship for this project and found it to be very interesting. Immediately while looking at the piece you get a strong sense of emotion and drama that is being portrayed. There is a lot of depth and warmth in the colors that are used and wide swift brush strokes to create the images. The first image that caught my eye was of waves crashing on the left side of the painting. The white tips of the waves are very noticeable against the softer shades of the ocean. Behind the waves is a ship which is the next part of the painting that drew my attention. The ship seems to be caught in the rough waves of the sea and barely able to keep afloat. There is a glimmer of light from the sun peeking through
Presentation regarding the university’s Disaster Recovery Plan/Enterprise Continuity Plan including: basic structures; roles within the DRP/ECP plan; areas within a company if addressed improve resilience to catastrophic events, and an employee awareness campaign.