procedure for the following lab procedures, given a total lab cost of $1.25 million and an average hourly lab tech rate of $15 (to calculate the RVU, divide the total sample expense by the com- Job-Order Costing Self-Quiz Problem Cost per Using the weighted procedure method of setting rates, calculate the relative value and mon denominator of .25): Projected Labor Supply Procedure Volume in Minutes Expense ($) Amylase 4,000 15 .75 Bleeding time 5,000 12 .50 Uric acid 3,000 10 .50 Platelet count 7,800 9. .25 Hematocrit 7,600 8. .25 RVU Rate-Setting Self-Quiz Problem Referring to the job-order costing and activity-based costing self-quiz problems on pages 186 and 191, respectively, calculate the charges necessary to realize a 10 percent gain at the lab using job-order costing and a 7 percent gain at the wellness clinic using activity- based costing.
procedure for the following lab procedures, given a total lab cost of $1.25 million and an average hourly lab tech rate of $15 (to calculate the RVU, divide the total sample expense by the com- Job-Order Costing Self-Quiz Problem Cost per Using the weighted procedure method of setting rates, calculate the relative value and mon denominator of .25): Projected Labor Supply Procedure Volume in Minutes Expense ($) Amylase 4,000 15 .75 Bleeding time 5,000 12 .50 Uric acid 3,000 10 .50 Platelet count 7,800 9. .25 Hematocrit 7,600 8. .25 RVU Rate-Setting Self-Quiz Problem Referring to the job-order costing and activity-based costing self-quiz problems on pages 186 and 191, respectively, calculate the charges necessary to realize a 10 percent gain at the lab using job-order costing and a 7 percent gain at the wellness clinic using activity- based costing.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:procedure for the following lab procedures, given a total lab cost of $1.25 million and an average
hourly lab tech rate of $15 (to calculate the RVU, divide the total sample expense by the com-
Job-Order Costing Self-Quiz Problem
Cost per
Using the weighted procedure method of setting rates, calculate the relative value and
mon denominator of .25):
Projected
Labor
Supply
Procedure
Volume
in Minutes
Expense ($)
Amylase
4,000
15
.75
Bleeding time
5,000
12
.50
Uric acid
3,000
10
.50
Platelet count
7,800
9.
.25
Hematocrit
7,600
8.
.25
Transcribed Image Text:RVU Rate-Setting Self-Quiz Problem
Referring to the job-order costing and activity-based costing self-quiz problems on pages
186 and 191, respectively, calculate the charges necessary to realize a 10 percent gain at
the lab using job-order costing and a 7 percent gain at the wellness clinic using activity-
based costing.
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