45) Let's say thất yo u work for a doctor's office and have used the simple regression method and have calculated the following cost information regarding overhead - Variable cost per patient seen - $70 Fixed costs for the month - $20,000 Average number of patients seen each month - 800 R-Square value - 0.897 Using that information, what is the average TOTAL overhead cost per patient seen ?

45) Let's say thất yo u work for a doctor's office and have used the simple regression method and have calculated the following cost information regarding overhead - Variable cost per patient seen - $70 Fixed costs for the month - $20,000 Average number of patients seen each month - 800 R-Square value - 0.897 Using that information, what is the average TOTAL overhead cost per patient seen ?

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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The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = +xBillable Hours X Monthly Overhead Costs and Billable Hours Data (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Overhead Costs Billable Hours 0 $315,000 3,000 $365,000 4,000 $395,000 5,000 $447,000 6,000 $530,000 7,000 $550,000 8,000
Question: Use the high-low method to determine the estimating cost function with machine-hours as the cost If July's estimated machine-hours are 4,500, calculate the total estimated operating costs of the Machining Department using the cost function in (a)? Max has used least squares regression analysis to obtain the following output:
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Cost of the three alternative methods of processing work in an office is stated below:A-Manual: Total fixed cost PM=3,000Variable cost per case=48B-Semi-Automatic:Total fixed cost PM=9,000Variable cost per case=28C-Fully automatic:Total fixed cost PM=25,000Variable cost per case=8Identify the indifference and state your results. For what volume of cases it will be preferred between each of A, B and C?
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Your company uses an activity-based costing system for its overhead costs. The following data is from its activity-based costing system. Activity Rates Cleaning $ 7.58 per hour Job support $20.74 per job Client support $25 per client One particular client requested 25 jobs during the year that required a total of 150 hours. For this service, the client was charged $2,000. What is customer margin for this client? (Round to the nearest dollar.) $ 345 $1,681 $1,656 $ 320
Pleasant Stay Medical Inc. wishes to determine its product costs. Pleasant Stay offers a variety of medical procedures (operations) that are considered its “products.” The overhead has been separated into three major activities. The annual estimated activity costs and activity bases follow: Activity Budgeted Activity Cost Activity Base Scheduling and admitting $432,000 Number of patients Housekeeping 4,212,000 Number of patient days Nursing 5,376,000 Weighted care unit Total costs $10,020,000 Total “patient days” are determined by multiplying the number of patients by the average length of stay in the hospital. A weighted care unit (wcu) is a measure of nursing effort used to care for patients. There were 192,000 weighted care units estimated for the year. In addition, Pleasant Stay estimated 6,000 patients and 27,000 patient days for the year. (The average patient is expected to have a a little more than a…