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what are the components of the cost of goods sold (also known as cost of revenues for healthcare organizations)give  a brief definition of each one of those components

what are the components of the cost of goods sold (also known as cost of revenues for healthcare organizations)give  a brief definition of each one of those components

FINANCIAL ACCOUNTING
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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what are the components of the cost of goods sold (also known as cost of revenues for healthcare organizations)give  a brief definition of each one of those components

 

Lueder's Medical Clinic - Income Statement Year Ended December 31 Operating Revenue Gross patient service revenue Less: Contractual allowances Net patient service revenue Other operating revenue Total operating revenue Salaries and wages Employee benefits Supplies expense Purchased services Other operating expenses Provision for bad debts Depreciation and amortization Interest expense Total Expenses Revenue over expenses from operations Nonoperating gains: Investment income Net income (loss) Operating Expenses 2017 $775,000.00 465,000.00 310,000.00 18,000.00 328,000.00 2017 139,279.00 13,041.00 17,376.00 29,200.00 105,076.00 18,440.00 17,650.00 2,750.00 $342,812.00 (14,812.00) 15,325.00 $513.00 2018 $844,000.00 505,200.00 338,800.00 28,000.00 366,800.00 2018 165,320.00 14,062.00 17,058.00 26,756.00 117,806.00 11,500.00 12,500.00 1,819.00 $366,821.00 (21.00) 1,445.00 $1,424.00
Transcribed Image Text:Lueder's Medical Clinic - Income Statement Year Ended December 31 Operating Revenue Gross patient service revenue Less: Contractual allowances Net patient service revenue Other operating revenue Total operating revenue Salaries and wages Employee benefits Supplies expense Purchased services Other operating expenses Provision for bad debts Depreciation and amortization Interest expense Total Expenses Revenue over expenses from operations Nonoperating gains: Investment income Net income (loss) Operating Expenses 2017 $775,000.00 465,000.00 310,000.00 18,000.00 328,000.00 2017 139,279.00 13,041.00 17,376.00 29,200.00 105,076.00 18,440.00 17,650.00 2,750.00 $342,812.00 (14,812.00) 15,325.00 $513.00 2018 $844,000.00 505,200.00 338,800.00 28,000.00 366,800.00 2018 165,320.00 14,062.00 17,058.00 26,756.00 117,806.00 11,500.00 12,500.00 1,819.00 $366,821.00 (21.00) 1,445.00 $1,424.00
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