Circle the appropriate response.

1. Labor minutes per meal is an example of a productivity indicator.

2. An objective of the budget planning process should be to identify financial standards for comparison with actual transactions.

3. Patient census records can be used during the budget planning process to project volume for the fiscal year.

4. Budget variances need to be reconciled only if the line item is over budgeor the report period.

5. A budget is translated into operational functions during the justification phase of the budget planning process.