General Accounting question Memorial Heart Hospital provides angioplasty procedures to patients according to thefollowing standards.Standard Quantity or Hours Standard Price or RateDirect materials (stents)2.00 stents per procedure$1,240 per stentDirect labor (cardiologist) 2.00 hours per procedureFor the most recent year, the hospital reported the following actual data:$220 per hourNumber of procedures performed35Number of stents purchased and used68Total cost of stents purchased and used $82,400Number of direct labor hoursTotal cost of direct laborCompute the materials quantity variance.67$14,100

Step 1: Define Standard Materials QuantityThe standard materials quantity is one element of the…

Answered: Memorial Heart Hospital provides…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 36E

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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…
Using the information below from Verdi Diagnostic Services, what is the formula for the total costs of X-rays? March April May X-Rays Taken X-ray Costs $13,500 $10,000 $7,500 7,000 5,000 3,000 O Total cost = $13,500+ ($0.57 x number of X-rays) B U O Total cost $1.75 + ($1,250x number of X-rays) O Total cost = $3,000 + ($1.50x number of X-rays) O Total cost = $2,000+ ($2.00 x number of X-rays)
Please do not give image format
am. 113.
Weber Valley Regional Hospital has collected data on all of its activities for the past 16 months. Data for cardiac nursing care follow: Required: 1. Using the high-low method, calculate the variable rate per hour and the fixed cost for the nursing care activity. 2. Run a regression on the data, using hours of nursing care as the independent variable. Predict cost for the cardiac nursing care for September Year 2 if 1,400 hours of nursing care are forecast. Evaluate the regression equation. How comfortable are you with the predicted cost for September Year 2? 3. Upon looking into the events that happened at the end of Year 1, you find that the cardiology ward bought a cardiac-monitoring machine for the nursing station. Administrators also decided to add a new supervisory position for the evening shift. Monthly depreciation on the monitor and the salary of the new supervisor together total 10,000. Now, run two regression equations, one for the observations from Year 1 and the second using only the observations for the eight months in Year 2. Discuss your findings. What is your predicted cost of the cardiac nursing care activity for September Year 2?
Novello 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 includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. On January 1 of the current year, the annual operating room overhead is estimated to be: Disposable supplies $350,100 Depreciation expense 63,100 Utilities 36,700 Nurse salaries 525,800 Technician wages 172,300 Total operating room overhead $1,148,000 The overhead costs will be assigned to procedures based on the number of surgical room hours. Novello 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 two weeks per year for general repairs. a. Compute the estimated number of operating room hours for the year. hours b. Determine the predetermined operating room overhead…
Q.Using an activity-based costing approach to cost analysis, calculate the budgeted cost of each program and the budgeted cost per patient-year of the drug program.
Using 0 & 3,000 patient-days, variable cost per patient-day would be: a.$5.00 b.$10.00 c.$6.67 d.$7.17
Answer numbers 10-12.
A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950
Alisha Incorporated manufactures medical stents for use in heart bypass surgery. Based on past experience, Alisha has found that its total maintenance costs can be represented by the following formula: Maintenance Cost = $325,000 + $17.10X where X = Number of Heart Stents. Last year, Alisha produced 80,000 stents. Actual maintenance costs for the year were as expected. Required: 1. What is the total maintenance cost incurred by Alisha last year? Round your answer to the nearest dollar.$? 2. What is the total fixed maintenance cost incurred by Alisha last year? Round your answer to the nearest dollar.$? 3. What is the total variable maintenance cost incurred by Alisha last year? Round your answer to the nearest dollar.$? 4. What is the maintenance cost per unit produced? Round your answer two decimal places.$per unit? 5. What is the fixed maintenance cost per unit? Round your answer two decimal places.$per unit? 6. What is the variable maintenance cost per unit? Round your answer…
Standards for nonmanufacturing expenses The Radiology Department provides imaging services for Northeast Washington Medical Center. One important activity in the Radiology Department is transcribing digitally recorded analyses of images into a written report. The manager of the Radiology Department determined that the average transcriptionist could type 800 lines of a report in an hour. The plan for the first week in July called for 64,000 typed lines to be written. The Radiology Department has two transcriptionists. Each transcriptionist is hired from an employment firm (hat requires temporary employees to be hired for a minimum of a 40-hour week. Transcriptionists are paid $18.00 per hour. The manager offered a bonus if the department could type more than 70,000 lines for the week, without overtime. Due to high service demands, the transcriptionists typed more lines in the first week of July than planned. The actual amount of lines typed in (he first week of July was 70,400 lines, without overtime. As a result, the bonus caused the average transcriptionist hourly rate to increase to $20.00 per hour during the first week in July. Instructions Are there any performance-related issues that the labor time and rate variances fail to consider? Explain.

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