Eastern Valley Hospital tracks medical supplies daily. Initial count 600 units, received 400 units, used 850 units. End count shows 120 units. Identify the supply variance.
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- Please solve all 4 questionsAnalyze valley hospital's admissions time varianceAnalyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Standard Time to Type of Complete Admission Admission Record Unscheduled 30 min. Scheduled 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 admitting the patient, thus requiring less time in admissions. The Admissions Department employs four full-time people for 40 hours per week at $15 per hour. For the most recent week, the department handled 140 unscheduled and 340 scheduled admissions. a. How much was actually spent on labor for the week? 2$ b. What are the standard hours for the actual volume of work for the week? hours c. Compute the direct labor time variance, and report how well the department performed for the week. Enter…
- Analyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Standard Time to Complete Type of Admission Record Admission Unscheduled 30 min. 20 min Scheduled 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 admitting the patient, thus requiring less time in admissions. The Admissions Department employs four fulll-time people for 40 hours per week at $12 per hour. For the most recent week, the department handled 184 unscheduled and 240 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the…Complete questions with proper format and details.Analyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Type of Admission Unscheduled Scheduled 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 ver at the time of admission. Information was collected on scheduled admissions prior to admitting the patient, thus requiring les in admissions. The Admissions Department employs three full-time people for 40 hours per week at $21 per hour. For the most recent week, department handled 136 unscheduled and 174 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the department performed…
- Analyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Type of Admission Unscheduled Scheduled 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 admitting the patient, thus requiring less time in admissions. The Admissions Department employs three full-time people for 40 hours per week at $15 per hour. For the most recent week, the department handled 136 unscheduled and 174 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the…you have been asked by management to explain variances in cost under inpatient capitated contract. the intensity of care delivered dropped from a budgeted case mix of 0.90 to an actual case mis of 0.85. what dollar effect did this have on actual cost. cost per case increased 4900 from budgeted value of 4750. this increased actual total cost by what amount? budget actual inpatient cost 12,568,500 16618350 members 4200 4200 admission rate 0.07 0.095 case mix index 0.9 0.85 cost per case (CMI = 1.0) 4750 4900In the cost formula, the term 12,000 a. is the variable rate. b. is the dependent variable. c. is the independent variable. d. is the intercept. e. cannot be determined from the above formula. Use the following information for Multiple-Choice Questions 3-4 through 3-7: The following cost formula was developed by using monthly data for a hospital. Total Cost = 128,000,000 + (12,000 Number of Patient Days)
- Valley 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 30 min. Scheduled 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 admitting the patient, thus requiring less time in admissions. The Admissions Department employs four full-time people for 40 hours per week at $15 per hour. For the most recent week, the department handled 176 unscheduled and 240 scheduled admissions. a. How much was actually spent on labor for the week?$ b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the department performed for the…Mercy Hospital staffs its medical/surgical floors with nurses depending on the number of pa- tients assigned to the floor and the severity of their condition. The index used to capture nurse effort is termed a relative value unit, or RVU. For example, taking vital signs for a single patient may be equal to one RVU. RVU's are then summed to estimate the total RVU requirements for the floor. From this, the nursing staff budget is determined. The medical/surgical floor is scheduled to have 25 patients for each day of the coming seven-day week. Some patients will require more nursing effort than others, depending on the severity of their conditions or their ages. The following table summarizes the expected RVU requirements for the patients: Number of Patients RVUS per Day 5 20 8 25 10 30 40 A nurse earns $180 per day and is able to perform 40 RVUS per day. a. Determine the total number of RVUS expected per day for the coming week. b. Determine the total weekly nurse budget for the coming…To compute a daily rate that reflected the difference in demands, patients were placed in three categories according to illness severity, and the following annual data were collected: Cost of Activity Activity Driver $ 546,780 2,132,200 441,630 4,185,700 $7,306,310 Activity Lodging Monitoring Feeding Nursing care Total The demands associated with patient severity are also provided: Severity Patient Days Monitoring Hours Nursing Hours High Medium Low 7,170 10,180 3,680 $ Patient days Monitoring hours used Patient days Nursing hours High severity Medium severity Low severity 15,170 12,030 3,260 133,100 72,900 14,300 Required: 1. Suppose that the costs of daily care are assigned using only patient days as the activity driver (which is also the measure of output). Compute the daily rate using this unit-based approach of cost assignment. If required, round your answer to the nearest cent. per day 2. Compute activity rates using the given activity drivers (combine activities with the same…
