acturing Expenses Englert Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Standard Time to Complete Admission Record 30 min. 20 min. The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to the admissions, which was less time-consuming. Type of Admission Unscheduled admission Scheduled admission The Admissions Department employs three full-time people (40 productive hours per week, with no overtime) at $15 per hour. For the most recent week, the department handled 136 unscheduled and 183 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume for the week (round to the nearest whole hour)? hours c. Calculate the time variance. In your computation, round the standard direct labor rate to the nearest whole cent. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Time variance

acturing Expenses Englert Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Standard Time to Complete Admission Record 30 min. 20 min. The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to the admissions, which was less time-consuming. Type of Admission Unscheduled admission Scheduled admission The Admissions Department employs three full-time people (40 productive hours per week, with no overtime) at $15 per hour. For the most recent week, the department handled 136 unscheduled and 183 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume for the week (round to the nearest whole hour)? hours c. Calculate the time variance. In your computation, round the standard direct labor rate to the nearest whole cent. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Time variance

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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Activity-Based Costing for a Service Company Crosswinds Hospital plans to use activity-based costing to assign hospital indirect costs to the care of patients. The hospital has identified the following activities and activity rates for the hospital indirect costs:
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Englert Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Type of Admission Standard Time to CompleteAdmission Record Unscheduled admission 30 min. Scheduled admission 15 min. The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to the admissions, which was less time-consuming. The Admissions Department employs four full-time people (40 productive hours per week, with no overtime) at $15 per hour. For the most recent week, the department handled 140 unscheduled and 350 scheduled admissions. a. How much was actually spent on labor for the week?$fill in the blank 1 b. What are the standard hours for the actual volume for the week (round to one decimal place)?fill in the blank 2 hours c. Calculate the time…
Total cost Meals served Square feet of space Files processed Service Department Housekeeping Services Food Services Administrative Services Service Departments Housekeeping Food Administrative Services Services Services $ 98,000 $ 323,060 Departmental costs before allocations Allocations: 6,100 Housekeeping Services costs Food Services costs Administrative Services costs Total costs after allocations Allocation Bases Square feet of space Meals served Files processed 16,300 The costs of the service departments are allocated by the step-down method using the allocation bases and in the order shown in the following table: Housekeeping Services (98,000) Laboratory Radiology $ 271,020 $ 433,400 $ 564,500 0 0 0 Operating Departments 1,900 8,700 All billing in the hospital is done through Laboratory, Radiology, or General Hospital. The hospital's administrator wants the costs of the three service departments allocated to these three billing centers. Required: Using the step-down method,…
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Blood Tests Blood Month Performed Test Costs $ 67,499 $ 88,980 $ 61,488 $ 53,446 $ 55,339 $ 44,140 $ 49,428 $ 64,665 $ 64,181 5,215 January February March 7,100 4,770 4,120 4,215 3, зе 3,790 5,045 4,955 Аpril Мay June July August September Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) Y = |x
1. Eliminating a non-value-added activity 2. Determining how much it costs to perform a heart transplant Calculating the cost of inspecting components from an outside supplier 3. 4. Developing and using a budgeted income statement for a division Eliminating the need to inspect by improving the quality of prod- ucts and processes 5. Determining whether selling a product at split-off is more prof- itable than processing it further before selling it 6. 7. Calculating the cost of producing an e-book Using a trend report on quality costs to assess the effectiveness of a quality improvement program 8. 9. Determining the units that must be sold to break even 10. Calculating the cost to perform a tooth extraction 11. Determining the total cost of moving goods 12. Using JIT purchasing and manufacturing to significantly reduce inventories 13. Using unit product cost to help develop a bid price Required: Classify the above actions as being associated with one of the following ob- jectives of a…
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View Policies Current Attempt in Progress Blossom's Medical operates three support departments and two operating units, Surgery and ER. The support departments are allocated based on the hours used. The cost of operating the accounting (acct), administration (admin), and human resources (HR) departments is $274500, $164700, and $66000, respectively. Information on the hours used are as follows: Acct Admin HR Surgery ER Hours in Acct 20 48 360 220 Hours in Admin 16 8 120 80 Hours in HR 8 4 65 130 What amount of costs would be allocated from the HR department to the other support departments (Acct and Admin) using the reciprocal method to allocate costs? (Do not round the intermediate calculations.) $5438. $0. $7203. $6894. eTextbook and Media
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D Question 4 A physician practice has two services lines and an administrative group. The table below provides the revenues and expenses for each department. How much of the administrative cost should be allocated to Internal Medicine when revenue is used as the allocation basis? Internal Medicine Pediatrics Administration Total O $60,000 O $72,000 $75,000 Revenue $600,000 $400,000 $1,000,000 None of these is correct. Expense $500,000 $300,000 $120,000 $980,000 Profit $100,000 100,000 -120,000 $80,000
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