In addition to salary, managers need to determine the number of staff necessary to accomplish the various tasks performed in the department and the workload for each staff member. If additional care units are added, or the workload increases by 20%, due to a sharp increase in outpatient services, a staffing reevaluation becomes necessary and additional staff may be needed. Also, it may be imperative to reduce staff hours or lay-off staff, should the alternative occur Determine the annual salary paid to a part-time employee who works 15 hours a week for the entire year at a base rate of $20 an hour. $
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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