A hospital currently occupies 250,000 square feet of space, and hte chief financial officer has decided to allocate $110000 annual maintenance costs to each department based on the square footage it occupies. Physical Therapy occupies 15,000 square feet of space and has an annual budget of $350,000. What is the annual maintenance cost allocation to Physical Therapy? ) $4714, 2) $6600, 3) $21000, 4) $34091

A hospital currently occupies 250,000 square feet of space, and hte chief financial officer has decided to allocate $110000 annual maintenance costs to each department based on the square footage it occupies. Physical Therapy occupies 15,000 square feet of space and has an annual budget of $350,000. What is the annual maintenance cost allocation to Physical Therapy? ) $4714, 2) $6600, 3) $21000, 4) $34091

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used (b) Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.) Material loading percentage eTextbook and Media Save for Later % Attempts: 0 of 2 used Submit Answer
Q. 2 New England Hospital Network (NEHN) is planning to install a state-of-the-art MRI system costing $1.500.000. It is expected to be used for 5 years and then sold for $200,000. NEHN uses a retum requirement of 20% per year for its medical diagnostic equipment. As an engineering management student currently serving a coop semester on the management staff of NEHN in Boston, you are asked to determine the minimum net revenue required each year to realize the expected recovery and return. 1. What is your answer? 2. If the annual operating cost is expected to be $90.000 per vear, what is the total revenue required to provide for recovery of capital. the 20% return, and the annual cxpenses?
The director of public works needs to distribute the indirect cost allocation of $1.2 million to the three branches around the city. She will use the information from last year to determine the rates for this year. a. Determine this year’s indirect cost rates for each branch. b. Use the rates from last year and records for this year to distribute the allocation for this year. How much of the $1.2 million is actually distributed?
33) Everyone Deserves to Smile mobile dentist office budgeted for 4365 patient visits a year. Everyone Deserves to Smile actually saw 4400 patients during the year and they have provided the following data: Revenue Personnel Expenses Medical Supplies Occupancy Expenses Admin Expenses Fixed Portion for Budget A) Cannot be determined C) $2000 Favorable $80,000 $12,000 $19,000 Variable Portion per patient visit for Budget $67 $13 $1.75 $0.25 Based on the given information, what is the volume variance for personnel expenses? Actual Results B) $0 D) $2000 Unfavorable $417,000 $78.000 $38.200 $18.000 $19,650 33)
Meals To Go operates a chain of 10 hospitals in the Los Angeles area. Its central food-catering facility, Mealman, prepares and delivers meals to the hospitals. It has the capacity to deliver up to 1,460,000 meals a year. In 2017, based on estimates from each hospital controller, Mealman budgeted for 1,050,000 meals a year. Budgeted fixed costs in 2017 were $1,533,000. Each hospital was charged $6.16 per meal—$4.70 variable costs plus $1.46 allocated budgeted fixed cost. Recently, the hospitals have been complaining about the quality of Mealman’s meals and their rising costs. In mid-2017, Meals To Go’s president announces that all Meals To Go hospitals and support facilities will be run as profit centers. Hospitals will be free to purchase quality-certified services from outside the system. Dean Wright, Mealman’s controller, is preparing the 2018 budget. He hears that three hospitals have decided to use outside suppliers for their meals, which will reduce the 2018 estimated demand to…
Subject :- Accounting
Company 10, a local road building contractor, had budgeted indirect costs for 2023 of $600,000. Budgeted labour hours for the year were 12,500 costing $260,000 and budgeted machine hours were 14,000. The company marks-up the total cost of each job by 40% to determine selling price. The company has just completed a road repair for the local council. The direct costs were as follows: Materials: $32,100 Labour: 305 hours Machining: 75 hours What is the total selling price of this job assuming the company allocates overheads on: A labour hour basis? A machine hour basis? (1) (ii) A B C D (1) Labour hour basis $53,084 $74,318 $65,436 $20,496 (ii)Machine hour basis $41,659 $58,323 $49,441 $4,521
Capital University has four departments. Each student takes 10 classes per year, and only takes course in their own faculty. The only sources of revenue are tuition and government grants. The University receives a grant of $10,000 a year for each student. Costs: Item Amount Note Total Salaries 15,500,000 Each professor teaches 6 classes per year and all get paid the same amount. Building Student Support 13,020,000 Each classroom is the same size. 195,000,000 Each student generally requires an equal amount of support and Administration Other 17,000,000 Science labs $10 million, Business trading room $2 million, Engineering labs $5 million Total 240,520,000 Student enrollment: Faculty: Number of classes per year Number of Students in Faculty Science Engineering 150 Arts Business Total 120 198 150 618 4,800 2,000 600 2,700 10,100 In order to break-even, the university estimates that tuition should be $13,814 per student ($240,520,000 in costs divided by 10,100 students, less the…
Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years. Number of Visitors per Year(thousands) Maintenance Costs($000) 1,830 $ 2,316 2,010 2,559 2,700 3,360 Required: a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. (Enter your answers in dollars not in thousands of dollars. Round "Variable cost" answer to 2 decimal places.) b. The company expects a record 2,000,000 visitors next year. What would be the estimated maintenance costs? (Enter your answer in dollars not in thousands of dollars.)
Hh1. Account
Alva Community Hospital has five laboratory technicians who are responsible for doing a seriesof standard blood tests. Each technician is paid a salary of $30,000. The lab facility representsa recent addition to the hospital and cost $300,000. It is expected to last 20 years. Equipmentused for the testing cost $10,000 and has a life expectancy of 5 years. In addition to the salaries,facility, and equipment, Alva expects to spend $200,000 for chemicals, forms, power, and othersupplies. This $200,000 is enough for 200,000 blood tests.Required:Assuming that the driver (measure of output) for each type of cost is the number of blood testsrun, classify the costs by completing the following table. Put an X in the appropriate box forvariable cost, discretionary fixed cost, or committed fixed cost.
Lerner College, a not-for-profit liberal arts college, charges the total cost of running its research library to its three academic programs: the humanities, the social sciences, and the sciences. Rent and utilities for the library space costs $30,000 per month. Salaries for the library’s employees total $275,000 per year, plus an additional 24% for benefits. The depreciation on the library's office equipment is $32,000 each year. Other library expenses – including supplies, books, subscriptions – are equal to $14,000 per month. The total cost of running the research library is allocated to each of the three academic programs based on the number of students in each of the three programs. The humanities program has 440 students; the social sciences program has 390 students; the sciences program has 260 students. The teaching staff for the social sciences program earns $650,000 per year in salaries and benefits. In addition, the social sciences program consumes $9,500 of supplies each…