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Please see attached file! Questions 1-3 in excel or word (not sure if 1-2 need to be done in excel) 1) JobOrder Costing Using the
Please see attached file! Questions 1-3 in excel or word (not sure if 1-2 need to be done in excel)
1) JobOrder Costing 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 $15 (to calculate the RVU, divide the total sample expense by the common denominator of 5): Procedure Amylase Bleeding time Uric Acid Platelet Count Hematocrit Projected Volume 4,000 5,000 3,000 7,800 7,600 Labor in Minutes 15 12 10 9 8 Supply Expense($) .75 .50 .50 .25 .25 2) Activity-Based Costing 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 ($300,00 direct and $300,000 indirect). Assign costs to each activity using the following information: Activity Evaluation Education Exercise Projected Volumes 4,000 3,000 2,000 Labor Expense ($) 30 50 05 Supply Expense 10 20 00 Visit Minutes 60 40 90 3) Breakeven Analysis Assume the following for your facility: Fixed Cost = $10,000 Selling Price= $100 Variable Cost= $20 What is the breakeven point in units? Dollars? What is the contribution margin in percent? In dollarsStep by Step Solution
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