StudyXY
RegisterLog in

Analyzing and Managing Variances in Business Operations

Description: A detailed study of how to analyze and manage variances within business operations for better performance.

Sarah Robinson
Contributor
4.9
51
5 months ago
Preview (2 of 1 Pages)
100%
Purchase to unlock

Page 1

Analyzing and Managing Variances in Business Operations - Page 1 preview image

Loading page ...

AnalyzingandManagingVariancesinBusinessOperationsWeek4DQ2Whenshouldvariancesbeinvestigated?Eachcompanyisdifferent;theywilleachhavetheirownstandardsastowhenvariancesshouldbeinvestigated.Answer:Variancesshouldbeinvestigatedwhentheyexceedpre-establishedthresholdsorwhentheysignificantlyimpactfinancialperformance.Thespecifictimingdependsonthecompany’spoliciesandthematerialityofthevariance.Whoshouldberesponsibleforcorrectinganegativevariance?Why?Negativevariancesarealsoknownasunfavorablevariances.Astowhoisresponsibleforcorrectingtheunfavorablevariancedependsonwherethevarianceoccurred.Theresponsiblepartycouldbeadepartmentoranindividuallikeamanager.Ifthevarianceoccurredwithoverheadthentheproductiondepartmentwouldberesponsibletocorrectit.Answer:Theresponsiblepartyforcorrectinganegativevariancedependsonwhereitoccurred.Forexample,ifthevarianceisrelatedtooverhead,theproductiondepartmentwouldtypicallyberesponsibleforcorrectingit.

Page 2

Study Now!

XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat

Document Details

Subject
Business Management

Related Documents

View all
Solved Assignments

CIS 337 Unit 7 Assignment Final Project Part IV Pr

CIS 337 final project presentation for stakeholders outlining a WAN proposal for a growing organization. Covers network planning, topology, security, and connectivity to support national and international expansion.

Class Notes

Analysis of Leadership in Monster Inc

In Monsters, Inc., leaders reflect Path-Goal Theory: Sulley shifts from supportive to achievement-oriented, while Waternoose is directive—each showing strengths, flaws, and growth paths.

Class Presentation

Evaluation of Alphabet's Mission, Vision, and 8-29

Alphabet Inc.'s mission is to organize the world's information and make it universally accessible and useful . Their vision is to create a future where technology improves lives and solves global challenges.

Class Notes

Boundless Management

Global corporations (MNCs) operate in multiple countries, using economies of scale and scope to grow revenue and cut costs. They face challenges like ethics and leadership while targeting fast-growing markets such as China and India.

Solved Assignments

Uncovering the Martha Stewart Tax Scandal Insider

Summary of Martha Stewart's insider trading and tax evasion scandal involving ImClone stock in 2001. She was convicted of conspiracy, obstruction, lying, and failing to pay \$220K in taxes on her NY home.

Class Notes

Boundless Business

Learn about the three key management levels—top, middle, and low—in a business hierarchy. Understand their roles, responsibilities, and how they work together to lead, plan, and supervise within an organization.

Solved Assignments

JetBlue Airlines Case Analysis

JetBlue Airlines case study analyzing market forces, competition, and strategy using Mullin's framework, Porter's Five Forces, PESTEL, VRIO, and Business Model Canvas for strategic insights.

Class Notes

Effective Speaker Notes Template for BUS 210 Prese

Presentation outlines SNHU Pet Supply’s mission to provide quality pet products and emphasizes informal leadership to foster a positive work environment and achieve company goals.

Class Notes

Leading as a Function of Management

Explore the essential management function of leading—learn how motivation, communication, decision-making, and coaching drive team success and organizational growth through effective leadership strategies.

Class Notes

McDonald's Q4 Earnings U

McDonald's U.S. sales fell 1.4% in Q4 due to lower customer spending and an E. coli outbreak. Despite this, strong international performance and global expansion plans lifted shares 4.8%, making McDonald's the top Dow performer on the day.