Help with accounting question Westview Hospital collected the following data on patient days andsupply costs:Month Patient Days Supply CostsMarch 1,200$86,000April 950$74,500May 1,050$79,000June 1,150$83,500Using the high-low method, prepare an estimate of supply costs for July,assuming 1,100 patient days.

Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…

Answered: Westview Hospital collected the…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

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

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Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 6MCQ

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General accounting
Draw a graph of the cost behavior for each of the following costs incurred by the Mountain Summit Hospital. The hospital measures monthly activity in patient days. Label both axes and the cost line in each graph.1. The cost of food varies in proportion to the number of patient days of activity. In January, the hospital provided 3,000 patient days of care, and food costs amounted to $24,000.2. The cost of salaries and fringe benefits for the administrative staff totals $12,000 per month.3. The hospital’s laboratory costs include two components: (a) $40,000 per month for compensation of personnel and depreciation on equipment and (b) $10 per patient day for chemicals and other materials used in performing the tests.4. The cost of utilities depends on how many wards the hospital needs to use during a particular month. During months with activity under 2,000 patient days of care, two wards are used, resulting in utility costs of $10,000. During months with greater than 2,000 patient days…
What is the level of fixed costs of this accounting question?
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What is the level of fixed costs?
What is the level of fixed costs? General accounting
What is the level of fixed costs?
Brave Heart Hospital showed the following major hospital costs at various levels of activity for CY 2020: Month Hospital Admission Major Hospital Cost(P) February 1,300 P850,000.00 March 8,500 P1,350,000.00 April 1,600 P1,150,000.00 May 1,400 P950,000.00 June 1,200 P800,000.00 July 200 P50,000.00 August 1,650 P1,200,000.00 September 1,550 P1,050,000.00 The breakdown of the major hospital costs in the month of May at 1,400 hospital admission is as follows: Accommodation Expense (Variable) P400,000.00 Utilities (Fixed) P300,000.00 Medicine (Mixed) P250,000.00 Total Overhead Cost P950,000.00 Requirements: Determine how much of major hospital cost for the month of August of P1,200,000.00 consisted of medicine cost Using high-low method, determine the cost function for Medicine Using high-low method, determine the cost function for major hospital cost What would be…
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)
The graph below shows monthly data collected on facilities maintenance department costs and on the number of patient-days serviced over the past year. 50, 000 45,000 UneofBest FIE 40,000 35 000 30,000 25, 000 20,000 15,000 10,000 5000 1,000 2000 3.000 4,000 5,000 6,000 s of Patient-Days Using 0 and 3,000 patient-days, the total cost at an activity level of 8,000 customer patient-days would be: O a. $91,000 O b. $66,860 Oc. $63,360 O d. $55,000 Maintenance Department Costs
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Westview Hospital collected the following data on patient days and supply costs: Month Patient Days Supply Costs March 1,200 $86,000 April 950 $74,500 May 1,050 $79,000 June 1,150 $83,500 Using the high-low method, prepare an estimate of supply costs for July, assuming 1,100 patient days.