you have been asked to explain variances in cost under inpatient capitated contract. 1. what dollar amount of the toal variance is attributed to enrolment variance. what dollar affect did the increased admission rate have on cost? budget actual inpatient cost 12,568,500 16618350 members 4200 4200 admission rate 0.07 0.095 case mix index 0.9 0.85 cost per case (CMI = 1.0) 4750 4900

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As production increases, the fixed cost per unit a. decreases b. remains the same c. increases d. either increases or decreases, depending on the variable costs   Standard costs are divided into which of the following components? a. price standard and quantity standard b. quality standard and quantity standard c. variance standard and quantity standard d. materials standard and labor standard   Which of the following activity bases would be the most appropriate for food costs of a hospital? a. how many MRI's are taken b. number of patients who stay in the hospital c. quantity of prescriptions filled d. number of nurses scheduled to work

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Analyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: Standard Time to Complete Type of Admission Record Admission Unscheduled 30 min. 20 min Scheduled The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to admitting the patient, thus requiring less time in admissions. The Admissions Department employs four fulll-time people for 40 hours per week at $12 per hour. For the most recent week, the department handled 184 unscheduled and 240 scheduled admissions. a. How much was actually spent on labor for the week? b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the…

Could you outline the difference between a fixed cost and a variable cost?Could you identify which expense is a fixed cost and which is a variable cost from the information in the scenario (storage unit vs. hospital gowns)?Develop a plan to reduce both costs within the next fiscal year.

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