1. In a hotel that has outsourced housekeeping to a third party service provider
ID: 3054334 • Letter: 1
Question
1. In a hotel that has outsourced housekeeping to a third party service provider, the four variances needed to analyze the overall Variable Staff Cost Variance are:
a) Price
b) Volume
c) Price-Volume
d) Rate
e) Cost-Volume
f) Rate-Time
g) Efficiency
2. Which of the statements below is (are) true when referring to using spreadsheets as part of the management of business planning, budgeting and forecasting?
a) By changing key assumptions, different scenarios can be created and considered.
b) The uncontrolled inserting of new rows, columns and worksheets can have a major impact on the integrity of the model.
c) Some companies can go for years without knowing that their data is fundamentally wrong.
d) File storage platforms allow multiple users to access the same file and make changes.
e) The number of files can reach unmanageable proportions, creating maintenance and control issues.
3. The following is a description of a technique often used in scenario planning that involves the interdependency of one or more related measures within the operating model of a business. Which technique is it?
“A desired outcome is entered into the planning or budgeting system and the supporting measures that can be changed are also selected. The system works back through the necessary calculations. It amends the dependent measures as required, in order to achieve the desired target outcome, assuming that this turns out to be feasible. This process may require several iterations in order to arrive at a satisfactory result.”
a. Goal Seek
b. Extrapolation
c. Allocation
d. Permutation
4. Based on the data provided in the table below (see above quiz), the F and B Cost of Sales Volume Variance is:
a) 182
b) 13.180
c) -14.987
d) 784
5. The area indicated in the graphical illustration of the Variable Staff Cost Variance (see above quiz) represents which variance?
a) Cost- Volume Variance
b) Rate -Time Variance
c) Price – Volume Variance
d) Efficiency Variance
Total F&E; Cost of Sales Covers Average Staff F&B; Cost per Cover Total Sold Costs Expenses Budget Actual 34 682 34 286 72'830 72'000 24'277 24'000 165846 179'554 3.96 68739 4.87 83554Explanation / Answer
1)The four variances needed to analyze the overall Variable Staff Cost Variance are
c) Price-Volume
e) Cost-Volume
f) Rate-Time
g) Efficiency
2. Which of the statements below is (are) true when referring to using spreadsheets as part of the management of business planning, budgeting and forecasting?
a) By changing key assumptions, different scenarios can be created and considered.
d) File storage platforms allow multiple users to access the same file and make changes.
3. The following is a description of a technique often used in scenario planning that involves the interdependency of one or more related measures within the operating model of a business. Which technique is it?
“A desired outcome is entered into the planning or budgeting system and the supporting measures that can be changed are also selected. The system works back through the necessary calculations. It amends the dependent measures as required, in order to achieve the desired target outcome, assuming that this turns out to be feasible. This process may require several iterations in order to arrive at a satisfactory result.”
b Extrapolation
4. Based on the data provided in the table below (see above quiz), the F and B Cost of Sales Volume Variance is:
d) 784
5. The area indicated in the graphical illustration of the Variable Staff Cost Variance (see above quiz) represents which variance?
b) Rate -Time Variance
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