Hi, can't think of an example of that...COVID meant fewer customers in our hotel, planning variance. Price of natural gas up from global conflict, planning variance...if something is out of the control of the guy being assessed/appraised, it should be excluded.
@Steve Willis ACCA but lets say in your scenario above that the planning variances were adverse. Would you say that the poor/inaccurate forecasting of the budgeted amounts by the higher ups would likely influence the operational variances as the person who is being evaluated would have been aiming to meet that 'budgeted target' set by the higher ups?
Hi Steve In this Case, I think like that rate for extra hour is 4.5 and normal rate is 1.5. So, the incremental cost for this extra hour is (4.5-1.5=3). But in your calculation, incremental cost for this extra hour is 0.5. Please, can you explain me?
Hi there, I'm sorry when I made that I used a hypothetical example of workers asking for 0.50 overtime premium, not the $3.00 from the question. You are right, if I did the next part you are correct. Sorry about that!
hi, I reset it every 3 months. If you want to pay now and keep it to June, I can set that up for you, just remind me in March with an email, or in the Whatsapp Group.
![ACCA FM Week 1 [Vid 8] | Inventory Management | Economic Order Quantity (EOQ) & Total Annual Cost](http://i.ytimg.com/vi/dHZAG2zQur8/mqdefault.jpg)
🚀 Get all my PM videos here: www.stevewillistraining.com 🚀
Thank you so much for this Steve. Really helps 💪💪
Happy to help!
Hi steve
I know this may be off topic but.
Can an adverse/ favorable operational variance be due an adverse/ favorable planning variance?
Hi, can't think of an example of that...COVID meant fewer customers in our hotel, planning variance. Price of natural gas up from global conflict, planning variance...if something is out of the control of the guy being assessed/appraised, it should be excluded.
@Steve Willis ACCA but lets say in your scenario above that the planning variances were adverse.
Would you say that the poor/inaccurate forecasting of the budgeted amounts by the higher ups would likely influence the operational variances as the person who is being evaluated would have been aiming to meet that 'budgeted target' set by the higher ups?
Not sure! From my own experience if my boss gave me un-realistic targets It wouldn't motivate me to work harder.
Hi Steve
In this Case, I think like that rate for extra hour is 4.5 and normal rate is 1.5. So, the incremental cost for this extra hour is (4.5-1.5=3). But in your calculation, incremental cost for this extra hour is 0.5. Please, can you explain me?
Hi there, I'm sorry when I made that I used a hypothetical example of workers asking for 0.50 overtime premium, not the $3.00 from the question. You are right, if I did the next part you are correct. Sorry about that!
@@SteveWillisACCA Thank for your reply
There is Question in the description but i cant find the answer?
Just the question--I take you through the solution in the video.
I am curious to know if your premium can be purchased till June. I have been on the website but its only up to March
hi, I reset it every 3 months. If you want to pay now and keep it to June, I can set that up for you, just remind me in March with an email, or in the Whatsapp Group.
@@SteveWillisACCA no worries at all will do.
Am unable to join your group please tell me how can i join
hi there, go to videos.stevewillistraining.com and sign up.