Using the weighted procedure method of setting rates, calculate the relative value and cost per 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- mon denominator of .25):

Using the weighted procedure method of setting rates, calculate the relative value and cost per 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- mon denominator of .25):

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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