{"id":15638,"date":"2020-11-24T09:12:19","date_gmt":"2020-11-24T09:12:19","guid":{"rendered":"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/costing-and-decision-making\/"},"modified":"2020-11-24T09:12:19","modified_gmt":"2020-11-24T09:12:19","slug":"costing-and-decision-making","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/costing-and-decision-making\/","title":{"rendered":"Costing And Decision Making"},"content":{"rendered":"<style type=\"text\/css\"><\/style><div>\n<p>&nbsp;<\/p>\n<h2><strong>Competency<\/strong><\/h2>\n<p>Analyze cost behaviors and production costing methods.<\/p>\n<h2><strong>Scenario<\/strong><\/h2>\n<p>Community Hospital is considering offering a new clinic for hospital employees and their dependents. The Accounting Manager would like you to assist with a review of cost assignments within the cost accounting system for a new service that is being considered. They review the following new service and cost with you.<\/p>\n<p>There will be a manager hired to oversee the operations of the new service at a salary of $6,000 per month. Technical staff will be scheduled on an as-needed basis, based on number of tests done, and will be paid $25.00 per hour. In addition, there will be one new full-time unit secretary at $15.00 per hour. A maintenance contract has been purchased to cover any needed repairs on the equipment at a cost of $10,000 for 12 months. Office supplies generally run about the same each month, and are roughly $100. Each test requires approximately the $75 of testing supplies. The office rent is $1,000 per month for the first year and then increases to $1,200 for the second year. Electricity to run all of the office equipment is expected to be $750 per month. Travel expenses for the manager will be $150.<\/p>\n<h2><strong>Instructions<\/strong><\/h2>\n<p>The Accounting Manager would like you to first create a\u00a0<strong>Word document<\/strong>\u00a0where you describe the characteristics of direct vs. indirect expenses and variable vs fixed expense. Following your discussion, you should create a table to\u00a0<strong>classify each cost item<\/strong>\u00a0(AI) as:<\/p>\n<ol>\n<li>Direct or indirect (D or I)<\/li>\n<li>Variable or fixed (V or F)<\/li>\n<\/ol>\n<p>She has asked you to\u00a0<strong>prepare a table in Word<\/strong>\u00a0with the following information:<\/p>\n<p>You will have two answers (D or I; V or F) for each of the following items:<\/p>\n<p><strong>Cost Item<\/strong><\/p>\n<p><strong>D or I V or F<\/strong><\/p>\n<ol>\n<li>\u00a0Department Manager<\/li>\n<li>Technical Staff<\/li>\n<li>Unit Secretary<\/li>\n<li>Maintenance Contract<\/li>\n<li>Office Supplies<\/li>\n<li>Testing Supplies<\/li>\n<li>Office Rent<\/li>\n<li>Electricity<\/li>\n<li>Travel Expenses<\/li>\n<\/ol>\n<p>Finally, in your document, the Accounting Manager would like to know if there are any other assumptions that you have made in making your selections in the table.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>&nbsp; Competency Analyze cost behaviors and production costing methods. Scenario Community Hospital is considering offering a new clinic for hospital employees and their dependents. The Accounting Manager would like you to assist with a review of cost assignments within the cost accounting system for a new service that is being considered. They review the following&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15638","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Costing And Decision Making - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/costing-and-decision-making\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Costing And Decision Making - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Competency Analyze cost behaviors and production costing methods. 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Scenario Community Hospital is considering offering a new clinic for hospital employees and their dependents. The Accounting Manager would like you to assist with a review of cost assignments within the cost accounting system for a new service that is being considered. 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