RI 6.7.8-Q-InsertYourLastName E Share KEE Insert v V A eral Delete v 个 八Z Analyz- Data Conditional Format Cell Sort & Find & Formatting as Table Styles Format v Filter Select 0 00 |6 % K M. 7. Job-Order Costing Problem Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure $1,250,000 and an average hourly lab tech rate of 0.25 ) for the following lab procedures, given a total lab cost of $15 (to calculate the RVU, divide the total sample expense by Sample Labor In Hours Labor Sample Labor Sample Supply In Minutes Projected Procedure Volume Expense ($) Expense ($) Amylase 15 0.75 000 12 Bleeding Time 0.50 000'sS 0.50 000' 7,800 Uric Acid Platelet Count 0.25 6. Hematocit 0.25 8.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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RI
6.7.8-Q-InsertYourLastName
E Share
KEE Insert v
V A
eral
Delete v
个
八Z
Analyz-
Data
Conditional Format
Cell
Sort &
Find &
Formatting as Table Styles
Format v
Filter
Select
0 00
|6 %
K
M.
7.
Job-Order Costing Problem
Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure
$1,250,000 and an average hourly lab tech rate of
0.25 )
for the following lab procedures, given a total lab cost of
$15
(to calculate the RVU, divide the total sample expense by
Sample Labor
In Hours
Labor
Sample Labor Sample Supply
In Minutes
Projected
Procedure
Volume
Expense ($)
Expense ($)
Amylase
15
0.75
000
12
Bleeding Time
0.50
000'sS
0.50
000'
7,800
Uric Acid
Platelet Count
0.25
6.
Hematocit
0.25
8.
Transcribed Image Text:RI 6.7.8-Q-InsertYourLastName E Share KEE Insert v V A eral Delete v 个 八Z Analyz- Data Conditional Format Cell Sort & Find & Formatting as Table Styles Format v Filter Select 0 00 |6 % K M. 7. Job-Order Costing Problem Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure $1,250,000 and an average hourly lab tech rate of 0.25 ) for the following lab procedures, given a total lab cost of $15 (to calculate the RVU, divide the total sample expense by Sample Labor In Hours Labor Sample Labor Sample Supply In Minutes Projected Procedure Volume Expense ($) Expense ($) Amylase 15 0.75 000 12 Bleeding Time 0.50 000'sS 0.50 000' 7,800 Uric Acid Platelet Count 0.25 6. Hematocit 0.25 8.
Expert Solution
Step 1

SOLUTION :

S.NO

Procedures

 

Projected volumes

(A)

Labor cost per unit

(B)

Supply expense

(C)

Total cost per unit

(D)

Total cost

(E)

Lab cost

(F)

Total cost of procedure

(G)

Relative value

(H)

1 Amylase 4,000 $3.75   $0.75 $4.50   $18,000   $182,482 $200,482 $200.48  
2 Bleeding time 5,000 $3.00 $0.50 $3.50 $17,500 $228,102 $245,602 $196.48
3 Uric acid 3,000 $2.50 $0.50 $3.00 $9,000 $136,861 $145,861 $194.48
4 Platelet count 7,800 $2.25 $0.25 $2.50 $19,500 $355,839 $375,339 $192.48
5 Hematocrit 7,600 $2.00 $0.25 $2.25 $17,100 $346,715 $363,815 $191.48
6 Total 27,400       $81,100 $1,250,000 $1,331,100 $975.41
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