Budgeting and Variance Analysis
Week 9 Assignment Rubric| CATEGORY | EXCELLENT – above expectations | GOOD – met expectations | FAIR – below expectations | POOR – significantly below expectations or missing | SCORE |
| Determine the total variance between the planned and actual budgets for Surgical Volume. Is the variance favorable or unfavorable? (10 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (9–10 Points) | Response is correct but fails to appropriately and accurately show how the response was determined. (8 points) | Response is incorrect but appropriately shows how the response should be calculated. (7 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) |
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| Determine the total variance between the planned and actual budgets for Patient Days. Is the variance favorable or unfavorable? (10 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (9–10 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (8 points) | Response is incorrect but appropriately shows how the response should be calculated. (7 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Determine the service-related variance for Surgical Volume. (8 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (8 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (7 points) | Response is incorrect but appropriately shows how the response should be calculated. (6 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Determine the service-related variance for Patient Days. (8 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (8 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (7 points) | Response is incorrect but appropriately shows how the response should be calculated. (6 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Prepare a flexible budget estimate. Present the side-by-side budget, flexible budget estimate, and the actual Surgical Revenues. (8 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (8 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (7 points) | Response is incorrect but appropriately shows how the response should be calculated. (6 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Prepare a flexible budget estimate. Present the side-by-side budget, flexible budget estimate, and the actual Patient Expenses. (8 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (8 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (7 points) | Response is incorrect but appropriately shows how the response should be calculated. (6 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Determine what variances are due to change in volume and what variances are due to change in rates. (8 points possible) | Response is correct and appropriately and accurately shows how the response was determined. (8 points) | Response is correct but fails to appropriately and accurately show how the response was determined. (7 points) | Response is incorrect but appropriately shows how the response should be calculated. (6 points) | Response is incorrect and does not appropriately and accurately show how the response should be calculated. (0 points) | |
| Instructor comments: | |||||
| Total Score (60 possible points): | points | ||||
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