New York City hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are: Short-term Long-term 9 2.5 4 Direct Materials (lbs.) 5 Nursing labor (hrs.) 6 7 Standard price paid for direct materials (per lb.): Standard rate for labor (per hour): Variable overhead rate for ICU (per hour): 10 Fixed overhead rate for ICU (per hour): SSSS $ 10.00 $ 16.00 $ 30.00 40.00 11 VOH and FOH are applied (used) on the basis of direct labor hours 12 13 Actual operating data for 2011 is as follows: 14 Total short-term patients: 15 Total long-term patients: 16 17 18 19 Direct materials for short-term patients (in lbs.): Direct materials for long-term patients (in lbs.): Nursing labor for short-term patients (in hours): Nursing labor for long-term patients (in hours): Total nursing labor hours (both types of patients): Total cost of Labor (includes both types of patients): 4,000 8000 35,000 $9.50 165,000 @ $9.50 10,200 40,500 50,700 $580,350 Below, I have prepared the standard cost sheet for the short-term patient: 20 21 22 23 24 25 26 27 28 Direct materials 29 Direct labor 30 Variable overhead 31 Fixed overhead 32 Total standard unit cost 33 34 New York City Hospital Standard Cost Sheet For Short-term Patients, 2011 Standard Price 10.00 16.00 5555 21 5 Standard Usage Standard Cost 9 $ 90.00 2.5 $ 40.00 30.00 2.5 $ 75.00 40.00 2.5 $ 100.00 $ 305.00 1. Complete a standard cost sheet for the long-term patient below. (7 points--must use a formula for all calculations) 35 36 37 38 39 40 Direct materials New York City Hospital Standard Cost Sheet For Long-term Patients, 2011 Standard Price Standard Usage Standard Cost