need all parts answered.
John Fleming, chlef administrator for Valley View Hospital, is concerned about the costs for tests in the hospital's lab. Charges for lab tests are consistently higher at Valley View than at other hospitals and have resulted in many complaints. Also, because or strict. regulations on amounts reimbursed for lab tests, payments recelved from insurance companies and governmental units have not been high enough to cover lab costs. Mr. Fleming has asked you to evaluate costs in the hospital's lab for the past month. The foliowing information is avallable: a. Two types of tests are performed in the lab-blood tests and smears. During the post month, 1,200 blood tests and 3,800 smears were performed in the lab. b. Small glass plates are used in both types of tests. During the past month, the hospital purchosed 19,000 plates at a cost of $62,510. 2,800 of these plates were unused at the end of the month; no plates were on hand at the beginning of the month. c. During the past month, 2,800 hours of labor time were cecorded in the fab ot a cost of $31,360 d. The lab's variable overhead cost last month totaled $23,520. Valiey View Hospitai has never used standard costs. By searching industry fiterature, howover, you have determined the following nationwide averages for hospital labs: Plates: Three plates are required per lab tent. These plotes cont $3,50 each and ane dsposed of after the test lis completed: Labor: Each blood test should require 0.8 hours to complete, and each smear should requlre 0.40 hours to complete. The overage cost of this lab time is $12,00 per hour. Overhead: Overhead cost is based on direct laborhours. The averoge rate for velablo overhead is $7.90 per hout. Required: 1. Compute a materials price variance for the plates purchased last month and a materlais quantity variance for the plates used last month. 2. For labor cost in tho lab: a. Compute o labor rate variance and is labor efficiency variance. be continued? 3.b. Is there any relation between the variable overnead efficuncy varance and the labor efficiency vatiance? Complete this question by entering your answers in the tabs below. Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates uned last month. (Indicate the effect of each variance by selecting "f" for favorable, "U" for unfovarable, and "None" for no effect Complete this question by entering your answers in the tabs below. Is there any relation between the variable overhead effclency variance and the labor efficiency variance? Complete this question by entering your answers in the tabs below. For labor cost in the lab, Compute a labor rate variance and a labor efficiency variance. (thilicate the effect of each varlance values.) Complete this question by entering your answers in the tabs below. Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (t.e., zero variance). Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. Compute the variable overhead rate and efficincy variances. (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (he, zero variance), Input all amounts as positive valives.) a. Compute the variable overhead rate and efficiency variances. b. Is there any rolation between the variable overhead efficiency variance and the labor efficiency variance? Complete this question by entering your answers in the tabs below. In most hospitals, one-half of the workers in the lab are senior technicians and one-haif are assistants, In an effort to reduce costs, Valley View Hospital employs only one-fourth senior technicians and three-fourths assistants. Would you recommend that this polic be continued? John Fleming, chlef administrator for Valley View Hospital, is concerned about the costs for tests in the hospital's lab. Charges for lab tests are consistently higher at Valley View than at other hospitals and have resulted in many complaints. Also, because or strict. regulations on amounts reimbursed for lab tests, payments recelved from insurance companies and governmental units have not been high enough to cover lab costs. Mr. Fleming has asked you to evaluate costs in the hospital's lab for the past month. The foliowing information is avallable: a. Two types of tests are performed in the lab-blood tests and smears. During the post month, 1,200 blood tests and 3,800 smears were performed in the lab. b. Small glass plates are used in both types of tests. During the past month, the hospital purchosed 19,000 plates at a cost of $62,510. 2,800 of these plates were unused at the end of the month; no plates were on hand at the beginning of the month. c. During the past month, 2,800 hours of labor time were cecorded in the fab ot a cost of $31,360 d. The lab's variable overhead cost last month totaled $23,520. Valiey View Hospitai has never used standard costs. By searching industry fiterature, howover, you have determined the following nationwide averages for hospital labs: Plates: Three plates are required per lab tent. These plotes cont $3,50 each and ane dsposed of after the test lis completed: Labor: Each blood test should require 0.8 hours to complete, and each smear should requlre 0.40 hours to complete. The overage cost of this lab time is $12,00 per hour. Overhead: Overhead cost is based on direct laborhours. The averoge rate for velablo overhead is $7.90 per hout. Required: 1. Compute a materials price variance for the plates purchased last month and a materlais quantity variance for the plates used last month. 2. For labor cost in tho lab: a. Compute o labor rate variance and is labor efficiency variance. be continued? 3.b. Is there any relation between the variable overnead efficuncy varance and the labor efficiency vatiance? Complete this question by entering your answers in the tabs below. Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates uned last month. (Indicate the effect of each variance by selecting "f" for favorable, "U" for unfovarable, and "None" for no effect Complete this question by entering your answers in the tabs below. Is there any relation between the variable overhead effclency variance and the labor efficiency variance? Complete this question by entering your answers in the tabs below. For labor cost in the lab, Compute a labor rate variance and a labor efficiency variance. (thilicate the effect of each varlance values.) Complete this question by entering your answers in the tabs below. Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, and "None" for no effect (t.e., zero variance). Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. Compute the variable overhead rate and efficincy variances. (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (he, zero variance), Input all amounts as positive valives.) a. Compute the variable overhead rate and efficiency variances. b. Is there any rolation between the variable overhead efficiency variance and the labor efficiency variance? Complete this question by entering your answers in the tabs below. In most hospitals, one-half of the workers in the lab are senior technicians and one-haif are assistants, In an effort to reduce costs, Valley View Hospital employs only one-fourth senior technicians and three-fourths assistants. Would you recommend that this polic be continued
