The following cost formula was developed using monthly data for a hospital. Total cost = $51,400 +

Question:

The following cost formula was developed using monthly data for a hospital.

Total cost = $51,400 + ($125 × Number of patient days)

The term ‘‘Total cost’’
a. is the variable rate.
b. is the intercept.
c. is the dependent variable.
d. is the independent variable.
e. cannot be determined from the above formula.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Managerial Accounting

ISBN: 978-0324660135

3rd Edition

Authors: Mowen, Hansen, Heitger

See More Books

Question Posted: Aug 20, 2022 03:37 AM

See More Questions

The following cost formula was developed using monthly data for a hospital. Total cost = $51,400 + ($125 Number of patient days) The term $125 a. is the variable rate. b. is the intercept. c. is the...
The following cost formula was developed using monthly data for a hospital. Total cost = $51,400 + ($125 Number of patient days) The term Number of patient days a. is the variable rate. b. is the...
The following cost formula was developed by using monthly data for a hospital. Total cost = $51,400 + ($125 Number of patient days) The term $51,400 a. is the variable rate. b. is the intercept. c....
Classify antigen-antibody reactions. Describe the various types of agglutination/precipitation reactions along with examples. 40 marks
During 2015, Karen, a single taxpayer, reports the following income and expense items relating to her interior design business: Revenues $52,000 Cost of goods sold 41,000 Advertising 3,300 Office...
Determine the shear strain Î³ xy at corners D and C if the plastic distorts as shown by the dashed lines. y 12 mm 4 mm 8 mm IB 3 mm 300 mm 12 mm |A -400 mm- 5 mm
What is Fred doing wrong from a coaching standpoint? LO.1
The accounting records of Anderson Inc. show the following data for 2008. 1. Life insurance expense on officers was $9,000. 2. Equipment was acquired in early January for $200,000. Straight-line...
At January 1, 2017 Kingbird, Inc reported Retained Earnings of $399000. During 2017 Kingbird had a net loss of $85500 and paid dividends to the stockholders of $57000. At December 31, 2017 the...
A box B contains 1 white ball, 3 red balls and 2 black balls. Another box B contains 2 white balls, 3 red balls and 4 black balls. A third box B3 contains 3 white balls, 4 red balls and 5 black...
Which of the following would probably be a fixed cost in an automobile insurance company? a. Application forms b. Time spent by adjusters to evaluate accidents c. The salary of customer service...
The following cost formula for total purchasing cost in a factory was developed using monthly data. Purchasing cost =$123,800 + ($15 Number of purchase orders) Next month, 2,000 purchase orders are...
Transaction data for Lexington Real Estate Agency are presented in E2-4. Instructions Journalize the transactions.
A pistoncylinder device contains 0.85 kg of refrigerant-134a at 210 oC. The piston that is free to move has a mass of 12 kg and a diameter of 25 cm. The local atmospheric pressure is 88 kPa. Now,...
3.3. Using the BEMT, show the effect of increasing linear twist on the variations in inflow, thrust, induced power, profile power, and lift coefficient across the span of a rotor with four blades of...
By uploading this work, I attest that the work contained herein is solely my own, that I only used the given equation sheet as a reference, and that I have not received any information from anyone...
Demand for patient surgery at Washington General Hospital has increased steadily in the past few years, as seen in the following table: ...
Explain product analysis
1. In what ways have the different forms of capital contributed to the success of Mother? 2. Explain the role of people management practices in supporting these forms of capital. 3. What risks and...
Why do markets typically lead to an efficient outcome for buyers and sellers?
The Walt Disney Corporation has four major sectors, described as follows: ¢ Media Networks: The ABC television and radio network, Disney channel, ESPN, A&E, E!, and Disney.com. ¢ Parks and...
Data for Midas Mining Company is presented in the following table of rates of return on investment and residual incomes: Determine the missing items, identifying each item by the appropriateletter....
Data for the North, East, South, and West Divisions of Columbia Wireless Communication Company are as follows: a. Determine the missing items, identifying each by the letters (a) through (l). b....
Cost of debt with fees . Kenny Enterprises will issue a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 9.9% with semiannual payments, and will use an investment...
Assume that an investment of $100,000 is expected to grow during the next year by 8% with SD 20%, and that the return is normally distributed. Whats the 5% VaR for the investment? A. $24,898 B....
Simpson Ltd is a small IT company, which has 2 million shares outstanding and a share price of $20 per share. The management of Simpson plans to increase debt and suggests it will generate $3 million...

The following cost formula was developed using monthly data for a hospital. Total cost = $51,400 +

Question:

Step by Step Answer:

c is the dependent variable The term Total cost in the cost ...View the full answer

Cornerstones of Managerial Accounting

Students also viewed these Business questions