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218 Introduction to the Financial Management of Healthcare Organizations Referring to the job-order costing and activity-based costing self-quiz problems 186 and 191, respectively, calculate the charges necessary to realize a 10 percent gain at the lab using job-order costing and a 7 percent gain at the wellness clinic using activity based costing. RVU Rate-Setting Self-Quiz Problem on pang Introduction to the Financial Management of Healthcare Organizations Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure for the following lab procedures, given a total lab cost of $1.25 million and an average hourly lab tech rate of $15 (to calculate the RVU, divide the total sample expense by the com- 186 mon denominator of .25): Job-Order Costing Self-Quiz Problem Projected Volume Labor in Minutes Supply Expense ($) Procedure Amylase Bleeding time Uric acid Platelet count Hematocrit 4,000 5,000 3,000 7,800 7,600 15 12 10 9 8 .75 .50 .50 .25 .25 Activity-Based Costing Self-Quiz Problem Chapter 8: Cost Accounting 191 Your wellness clinic wants to develop a product cost for the following activities using labor expense and supply expense to assign direct costs and visit minutes as a cost driver to assign indirect costs. Projected total costs for your wellness clinic are $600,000 ($300,000 direct and $300,000 indirect). Assign costs to each activity using the following information: Projected Volumes Activity Labor Expense ($) Supply Expense ($) Visit Minutes Evaluation Education Exercise 4,000 3,000 2,000 30 50 5 10 20 0 60 40 90 218 Introduction to the Financial Management of Healthcare Organizations Referring to the job-order costing and activity-based costing self-quiz problems 186 and 191, respectively, calculate the charges necessary to realize a 10 percent gain at the lab using job-order costing and a 7 percent gain at the wellness clinic using activity based costing. RVU Rate-Setting Self-Quiz Problem on pang Introduction to the Financial Management of Healthcare Organizations Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure for the following lab procedures, given a total lab cost of $1.25 million and an average hourly lab tech rate of $15 (to calculate the RVU, divide the total sample expense by the com- 186 mon denominator of .25): Job-Order Costing Self-Quiz Problem Projected Volume Labor in Minutes Supply Expense ($) Procedure Amylase Bleeding time Uric acid Platelet count Hematocrit 4,000 5,000 3,000 7,800 7,600 15 12 10 9 8 .75 .50 .50 .25 .25 Activity-Based Costing Self-Quiz Problem Chapter 8: Cost Accounting 191 Your wellness clinic wants to develop a product cost for the following activities using labor expense and supply expense to assign direct costs and visit minutes as a cost driver to assign indirect costs. Projected total costs for your wellness clinic are $600,000 ($300,000 direct and $300,000 indirect). Assign costs to each activity using the following information: Projected Volumes Activity Labor Expense ($) Supply Expense ($) Visit Minutes Evaluation Education Exercise 4,000 3,000 2,000 30 50 5 10 20 0 60 40 90