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Need Help filling in this table! Please, they all require a 4 decimal answer. Can someone fill this in as the table shows and not
Need Help filling in this table! Please, they all require a 4 decimal answer. Can someone fill this in as the table shows and not in any other format. Thanks!
Problem 16-49 Partial Operational and Financial Productivity; Medical Practice [LO 16-2] Family Medical Care (FMC) is a family medical practice with 5 physicians, a nursing staff of 7 to 9 nurses, and an administrative staff that varies from 3 to 6 personnel. Rejat Patel, the chief physicien at FMC, is interested in studying the efficiency of the practice as a basis to set some benchmarks for further improvement, for rewarding his staff, and for comparing the efficiency of the FMC practice to other family medical practices. He is able to get comparable data for other practices from industry sources. So that the data are consistent wth the industry sources, Patel has asked Marin & Associates, his accounting firm to develop a set of productivity measures that would satisfy this requirement Upon investigation, Joseph Marin finds that the measures to be used are the partial financial and operational productivity measures as defined in the chapter. The following Information is for the last 2 years for the FMC practice: Current Prior You Patient visite 33, 100 29,000 Nursing hours used 20,700 19,00 Sdninistrative houd 13,525 13,823 Coet of nursing support per hour 543.00 $ 12.00 Cost of adsinsacration per hour $ 28.60 8 23.00 Incen=ry RYHTASH Eirencial productivity Nursing 0.930 0.029 Aniniatrative 1.260 1.180 Required: 1. Compute the partial financial productivity ratios for nursing and administrative support for the current and prior year. 2. Separate the change in the partial financial productivity ratio from the prior year to the current year into productivity chenges, inout price changes, and output changes. (For all requirements, round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) Nursing Administrative 1. Fra per al productivity Ourrent year) Financial para producivity (Prior year 2. Productly change Inout price thang Output change Problem 16-49 Partial Operational and Financial Productivity; Medical Practice [LO 16-2] Family Medical Care (FMC) is a family medical practice with 5 physicians, a nursing staff of 7 to 9 nurses, and an administrative staff that varies from 3 to 6 personnel. Rejat Patel, the chief physicien at FMC, is interested in studying the efficiency of the practice as a basis to set some benchmarks for further improvement, for rewarding his staff, and for comparing the efficiency of the FMC practice to other family medical practices. He is able to get comparable data for other practices from industry sources. So that the data are consistent wth the industry sources, Patel has asked Marin & Associates, his accounting firm to develop a set of productivity measures that would satisfy this requirement Upon investigation, Joseph Marin finds that the measures to be used are the partial financial and operational productivity measures as defined in the chapter. The following Information is for the last 2 years for the FMC practice: Current Prior You Patient visite 33, 100 29,000 Nursing hours used 20,700 19,00 Sdninistrative houd 13,525 13,823 Coet of nursing support per hour 543.00 $ 12.00 Cost of adsinsacration per hour $ 28.60 8 23.00 Incen=ry RYHTASH Eirencial productivity Nursing 0.930 0.029 Aniniatrative 1.260 1.180 Required: 1. Compute the partial financial productivity ratios for nursing and administrative support for the current and prior year. 2. Separate the change in the partial financial productivity ratio from the prior year to the current year into productivity chenges, inout price changes, and output changes. (For all requirements, round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) Nursing Administrative 1. Fra per al productivity Ourrent year) Financial para producivity (Prior year 2. Productly change Inout price thang Output changeStep by Step Solution
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