2. You lab is going to start offering a new procedure. Here is the information you have about the test: Number of procedures performed per year: Equipment cost: Service contract: Expected useful life: Reagent cost: #of minutes to perform test Average wage: Medical supplies/total billable tests Nonmedical supplies/total billable tests Other expenses/total billable tests: 23,500 $105,000 $3500 each year for 7 years 7 years $22,000 per year 20.0 $20.75 per hour $0.28 $0.06 $0.05 Using this information, determine the cost of the test. Explain how you determined this cost. Explain how you arrived at this cost.

2. You lab is going to start offering a new procedure. Here is the information you have about the test: Number of procedures performed per year: Equipment cost: Service contract: Expected useful life: Reagent cost: #of minutes to perform test Average wage: Medical supplies/total billable tests Nonmedical supplies/total billable tests Other expenses/total billable tests: 23,500 $105,000 $3500 each year for 7 years 7 years $22,000 per year 20.0 $20.75 per hour $0.28 $0.06 $0.05 Using this information, determine the cost of the test. Explain how you determined this cost. Explain how you arrived at this cost.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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