An outpatient surgery center performs 10,000 procedures in 2020 and incurs a total cost for utilities equal to $20,000. In 2021, the center performs 12,000 procedures and incurs a utilities cost equal to $22,000. The total fixed cost of utilities (either year) is _____________ .
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An outpatient surgery center performs 10,000 procedures in 2020 and incurs a total cost for utilities equal to $20,000. In 2021, the center performs 12,000 procedures and incurs a utilities cost equal to $22,000. The total fixed cost of utilities (either year) is _____________ .
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- General Hospital, a not-for-profit acute care facility, has the following cost structure for its inpatient services: Fixed costs $1,093,754 Variable cost per inpatient day $19 Charge (revenue) per inpatient day $105 The hospital expects to have a patient load of 1,599 inpatient days next year. Assume that 18 percent of the hospital's inpatient days come from a managed care plan that wants a 27 percent discount from charges. What is the change in profit if the hospital accepts the proposal?Novak, Inc. began work on a $ 6,466,000 contract in 2020 to construct an office building. During 2020, Novak, Inc. incurred costs of $ 1,547,340, billed its customers for $ 1,085,000, and collected $ 1,013,000. At December 31, 2020, the estimated additional costs to complete the project total $ 3,003,660.Prepare Novak’s 2020 journal entries using the percentage-of-completion methodGrouper, Inc. began work on a $6,491,000 contract in 2020 to construct an office building. During 2020, Grouper, Inc. incurred costs of $1,941,020, billed its customers for $1,138,000, and collected $904,000. At December 31, 2020, the estimated additional costs to complete the project total $3,304,980.Prepare Grouper’s 2020 journal entries using the percentage-of-completion method.
- Mendez 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 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 the total major hospital cost if hospital admission is at 2,000?Mendez 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 the…Mendez 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.
- Mendez 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 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 costMendez 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: Using high-low method, determine the cost function for major hospital cost What would be the total major hospital cost if hospital admission is at 2,000?1. The Dental Services department of Our Town Community Health Center provides 3 services: Routine examinations, cleanings, and fillings. The fully allocated costs in 2020 for the Dental Services Department were $600,000. Information on the services performed in 2020 are listed in the table below. Total Charges Billed 300,000 187,500 210,000 Service #Procedures Total Revenues 2,000 1,500 700 $260,000 $170,000 $210,000 Exams Cleanings Fillings A) Using the Cost to Charge Ratio Method using charges, what is the cost incurred during 2020 for the Dental Services Department to perform exams, cleanings, and fillings (in aggregate)? B) What is the average cost per exam, per deaning, and per filling? 2) The Dental Services Department Manager just found out about another way to estimate their service costs: the RVU Method. Exams have an RVU of 1 Cleanings have an RVU of 0.75 Fillings have an RVU of 3 A) How many RVUs did the Dental Services Department produce in 20207? B) What is the cost per…
- To estimate the monthly maintenance cost for the maintenance department in a hospital, the following monthly costs are available: Monthly Expense Supervisor Salary Expense Depreciation Expense-Maintenance Equipment Repairs Expense-Maintenance Equipment Supplies Expense Wages Expense-Maintenance Workers $10,000 The Supervisor Salary Expense and the Depreciation Expense are fixed costs. The remaining expenses are variable costs. There are 1,000 patient days in a month, which is the cost driver for maintenance costs. Estimate the cost function where Y is the monthly maintenance cost and X is the variable cost per patient day. OY-58+$22X OY $30,000 $22.000x OY-$8,000-$22,000x OY-$8,000 $22X $5,000 Costs $3,000 $5,000 $7,000The hospital’s fixed costs are $38 million: What is the hospital’s net income? Assume that half of the 100,000 covered lives in the commercial payer group will be moved into a capitated plan. All utilization and cost data remain the same. What PMPM rate will the hospital have to charge to retain their Part a net income? What overall net income would be produced if the admission rate of the capitated group were reduced from the commercial level by 10 percent? Assuming that the utilization reduction also occurs, what overall net income would be produced if the variable cost per admission for the capitated group were lowered to $2,200?In 2019, Austin Powers Corporation developed a new product that will be marketed in 2020. In connection with the development of this product, the following costs were incurred in 2019: research and development costs $400,000, materials and supplies consumed $60,000, and compensation paid to research consultants $125,000. It is anticipated that these costs will be recovered in 2022. What is the amount of research and development costs that Austin Powers should record in 2019 as a charge to expense?