Research the role of the Nurse Practitioner.
Select and describe an Advanced Nurse Practitioner role.
Why are you becoming a Nurse Practitioner?
Find one research article, expert opinion about the Nurse Practitioner role and summarize the article.
What does the Institute Of Medicine (IOM) say about the need of Nurse Practitioners?
Identify and describe the effects that you will have as an advanced practice nurse in terms of healthcare industry and patient outcomes.
Compute the labor efficiency variance
Labor Efficiency Variance
*Note this question builds on question 7
• The labor efficiency variance (also called the labor usage variance) is a measure of worker productivity.
• The labor efficiency variance is computed by multiplying the standard hourly wage rate by the difference between the standard hours allowed and
actual hours used.
• Bruce allows 900 standard labor hours to produce 600 beams (600 units × 1.5 hours per unit).
• Standard hourly Labor rate $13
• Timecards show that 2,075 Actual direct labor hours were used in March.
- Compute the labor efficiency variance
Given that 2,075 hours were actually required, the company’s unfavorable labor efficiency variance for March is computed as follows.
Labor Efficiency Variance = Standard Hourly labor Rate × (Standard labor Hours – Actual Direct labor Hours)
Calculate the labor rate variance
Labor Rate Variance
• Bruce incurred actual direct labor costs of $14,040 in March.
• Standard hourly Labor rate $13
• The standard labor cost allowed for manufacturing 600 beams is only $11,700 (600 units × 1.5 hours per unit × $13 per hour).
• Thus, the company is faced with an unfavorable labor variance of $2,340 ($11,700 − $14,040).
• Timecards show that 2,075 Actual direct labor hours were used in March.
• The average wage rate for the month was $14per hour. (Actual rate = $14)
- Calculate the labor rate variance
Labor Rate Variance = Actual direct Labor Hours × (Standard hourly labor Rate – Actual Rate)
Complete the table to calculate the total Manufacturing costs:
Complete the table to calculate the total Manufacturing costs:
Variable costs:
• Direct materials = $20 per unit
• Direct labor = $9 per unit
• Variable manufacturing overhead = $11 per unit
Fixed costs
• Manufacturing overhead = $17,000 per quarter
Quarter 1 Quarter 2 Quarter 3
Level of Production (in
units): 600
Level of Production (in
units): 1,500
Level of Production (in
units): 2,000
VARIABLE COSTS
Direct materials ($20 per unit)…………
Direct labor ($9 per unit)…………………
Variable manufacturing overhead ($11 per unit)……………
FIXED COSTS
Manufacturing overhead ($17,000 per quarter)…………..
Total manufacturing costs (Add all of the above
costs)……………
Calculate the budgeted production in units.
Production budget
• The desired ending inventory for the 1st Quarter = 2000
• The desired ending inventory for the 2nd Quarter = 3000
• The desired ending inventory for the 3rd Quarter = 4000
• The desired ending inventory for the 4th Quarter = 5000
- Calculate the budgeted production in units.
Units of Production
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Projected unit sales………………………………. 14000 16000 21000 22000
Add Desired ending inventory……………
Units available for sale (Projected unit sales +
Desired ending inventory) …………………………….
Less beginning inventory………………………. 14,000 2,000 3,000 4,000
Budgeted production in units…………..
Create the sales budget for 2021:
The sales budget
• Henry the director of a hand sanitizer company believes that the demand for the company’s product will continue to grow in 2021.
– He estimates that sales will reach 14,000 units in the first quarter and 16,000 units in the second quarter.
– Sales estimates for the third and fourth quarters are 21,000 units and 22,000 units, respectively.
– To keep its product affordable to a wide range of users, they are committed to holding its selling price per unit at $13 throughout the year.
- Create the sales budget for 2021:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Projected unit sales………
Sales price per unit………
Projected revenue (Projected unit
sales x Sales price per unit)
Provide the steps and elaborate on each step for preparing the annual elements of the master budget
Provide the steps and elaborate on each step for preparing the annual elements of the master budget
Write a 4-5 page review and analysis of the individual’s accomplishments, leadership style and philosophy, leadership impact and career influences.
Project
One of the best ways to study leadership is through case studies of individuals. You will choose one leader and write a 4-5 page review and analysis of the individual’s accomplishments, leadership style and philosophy, leadership impact and career influences. This is not a book report, but a critical evaluation and synthesis of their accomplishments and struggles. You may choose an historical figure or a contemporary leader. You may gather this information from published works or from first-person interviews. In the paper, you must indicate how you gathered this information. Good case studies tell a story as well as analyzing and documenting. Think about how the individual probably experienced his/her own leadership as well as how those around the individual portrayed him/her. Was there drama in this story? Why did you find this person compelling enough to study? The assignment is expected to be a culminating work that demonstrates rigor and exceptional thinking. This assignment will allow you to explore the life of a leader who has demonstrated leadership strengths and skills.
Your 4 to 5 page paper should include the following:
- A brief history of this person’s life and the reason for choosing him/her.
- What the leader has accomplished in his/her lifetime
- What is his/her leadership style and philosophy
- What has been the impact of this person’s leadership
- What are the specific strengths and skills you see in this leader
- What have you learned from this leader’s life and how will what you have learned impact your own leadership
Guidelines
- The assignment should be typed, single-sided, margins 1” for top and bottom, and 1.25” for sides. Number the pages. Staple or clip; do not use a plastic cover.
- You should include a bibliography using the APA format.
- The minimum page count requirement for this assignment is four pages; this does not include the cover page or the references page.
- Please remember: Grammar, spelling, punctuation, sentence structure and word usage always count!
Marking Criteria
Pass: • The assignment covers the main areas as specified but lacks detail and thoroughness. • Presentation of material acceptable but may display weakness in the way in which it is communicated. • Assignment deadline has been met.
Merit: • As for a pass but with more detailed and analytical responses. • Demonstration of a detailed analysis of information requirements displaying the ability to practically apply the information collected. • Content is presented in a logical and accurate manner. Distinction: • As for a pass but showing an in-depth understanding of how information is managed and how it is applied to meet a set objective. • Evidence demonstrated of the ability to synthesize and evaluate the most appropriate informations. • All tasks have been completed to a very high standard, and the content of the assignment as been selected with consistent success and showing a high degree of analytical ability. • The presentation and style of the assignment is of a high standard. Merit: • As for a pass but with more detailed and analytical responses. • Demonstration of a detailed analysis of information requirements displaying the ability to practically apply the information collected. • Content is presented in a logical and accurate manner.
Distinction: • As for a pass but showing an in-depth understanding of how information is managed and how it is applied to meet a set objective. • Evidence demonstrated of the ability to synthesize and evaluate the most appropriate informations. • All tasks have been completed to a very high standard, and the content of the assignment as been selected with consistent success and showing a high degree of analytical ability. • The presentation and style of the assignment is of a high standard
