Selected financial data for the Micco Community Health Clinic follows for a volume of 120,000 patients.Total Fixed Costs $304,144Total costs (fixed and variable) $464,620Calculate the variable cost per patient.(input your number without dollar signs or commas. Use 2 decimal places.)

Variable costs: Variable costs are those costs which change in proportion to change in the…

Answered: Selected financial data for the Micco…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please help me
Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 5%. For example, if a hospital buys supplies from Worley that cost Worley $100 to buy from manufacturers, Worley would charge the hospital $105 to purchase these supplies. For years, Worley believed that the 5% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits, Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (each hospital purchased medical supplies that had cost Worley $30,000 to buy from manufacturers): 4. Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the…
2. Nurse Urology Cardiology Ortho OB Smith 28 18 15 75 Jones 32 48 23 38 Casey Kelly 51 36 24 36 25 38 55 12 The administrator at a local hospital must appoint head nurses to four newly established departments. The administrator has hired the above four nurses. Each nurse has been ranked on a cost scale of 0 to 100. 0 implies the nurse would be perfect for the task while 100 implies that the nurse is not suited for the department. The above table represents all possible assignments and the nurse's ratings for each department. Which nurse would you assign to which unit? What is the total cost?
I will provide the question and answer but I need an explanation on how to get the answers. There are 4 answers (below) and the chart should be attached. Solve the problem. Round dollar amounts to the nearest dollar. Westminster Office Machines allocates its overhead of $1,487,304 by the sales of each product. Find the overhead for each department. List your answers if the order of the table. ($423,696, $458,304, $222,684, $382,620)
The Valley Hospital measures the in-patient occupancy of the hospital by determining the number of patient days divided by the number of available bed days in the hospital for a time period. The following in-patient data are available for the months of April, May, and June: April May June Admitted patients 1,440 1,860 2,250 Average length of stay per patient 4.0 days 3.5 days 3.0 days The hospital has 200 rooms. One hundred rooms are private and have a single bed per room.The other hundred rooms are semi-private with two beds per room. a. Determine the number of in-patient days for each month. Number of in-patient Days April fill in the blank 1 May fill in the blank 2 June fill in the blank 3 b. Determine the available bed days for each month. Available Bed Days April fill in the blank 4 May fill in the blank 5 June fill in the blank 6 c. Determine the occupancy…
Food Service Corp. offers a meal service for commuting college students. In the month of January, 2,000 meals were served at a total cost of $9,700. In February, 1,450 meals were served at a total cost of $7,300, and the total number of meals served for March were 1,100 at a total cost of $6,100. Using the high-low method, the variable cost per unit is $4.00. What is the total fixed cost and the total variable cost for January? a. The total fixed cost is $8,000, and the variable cost is $1,700. b. The total fixed cost is $5,600, and the variable cost is $4,100. O c. The total fixed cost is $4,100, and the variable cost is $5,600. d. The total fixed cost is $1,700, and the variable cost is $8,000.
Maria's Food Service provides meals that nonprofit organizations distribute to handicapped and elderly people. The following is her forecasted income statement for April, when she expects to produce and sell 4, 000 meals: Amount Per Unit Sales revenue $ 28,000 $7.00 costs of meals produced 20,000 5.00 Gross Profit $ 8,000 $ 2.00 Administrative costs 3,200 .08 Operating profit $ 4,800 $ 1.20 Fixed costs included in this income statement are $6,400 for meal production and $800 for administrative costs. Maria has received a special request from an organization sponsoring a picnic to raise funds for the Special Olympics. This organization is willing to pay $4.00 per meal for 300 meals on April…
A school is raising money to buy robes. Cost is $8,000. Raffle tickets are sold for $10. Variable cost is $2 and fixed cost is$8,000. Determine sales volume required for target income.
Macee Store has three operating departments, and it conducts advertising that benefits all departments. Advertising costs are $110,000. Sales for its operating departments follow. Department Sales 1 $ 247,500 2 455,400 3 287, 100 How much advertising cost is allocated to each operating department if the allocation is based on departmental sales? Note: Do not round your intermediate calculations.
Refer to the information for Luisa Crimini above.Required:1. Which month represents the high point? The low point?2. Using the high-low method, compute the variable rate for tanning. Compute the fixedcost per month.3. Using your answers to Requirement 2, write the cost formula for tanning services.4. Calculate the total predicted cost of tanning services for September for 2,500 appointments using the formula found in Requirement 3. Of that total cost, how much is thetotal fixed cost for September? How much is the total predicted variable cost forSeptember?5. CONCEPTUAL CONNECTION Identify and briefly explain any additional issues thatLuisa might be wise to consider when using the high-low method to estimate the costs ofher tanning salon.
A capitated managed care agreement with the city will bring in 400.00/month for 20 city employees, regardless if they are sick or not. Using differential cost analysis how do you calculate the full cost gain/loss and the differential cost gain/loss for two scenarios: keeping the agreement and killing the agreement?

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Selected financial data for the Micco Community Health Clinic follows for a volume of 120,000 patients. Total Fixed Costs $304,144 Total costs (fixed and variable) $464,620 Calculate the variable cost per patient. (input your number without dollar signs or commas. Use 2 decimal places.)