ehling Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by each patient procedure and inciudes the direct materials costs (drugs and medical devices), ysician surgical time, and operating room overhead. On January 1 of the current year, the annual operating room averhead is estimated to be: isposable supplies $281,800 epreciation expense 50,800 tilities 29,600 salaries 423,200 echnician wages 138,600 Total operating room overhead $924,000 e overhead costs will be assigned to procedures, based on the number of surgical room hours. Poehling Medical Center expects to use the operating room an average of eight hours per day, seven days per week. In addition, the operating room will be shut down tw eeks per year for general repairs. Determine the predetermined operating room overhead rate for the year. 330 per hour Bill Harris had a 8-hour procedure on January 22. How much operating room overhead would be charged to his procedure, using the rate determined in part (a)? 1,650 X During January, the operating room was used 186 hours. The actual overhead costs incurred for January were $60,000. Determine the overapplied operating overhead or underapplied operating overhead for the period. Enter your answer as a positive number. 1,380V overapplied v

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Process Costing

Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.  

Job Costing

Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.

ABC Costing

Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.