{"id":21963,"date":"2020-12-15T09:58:50","date_gmt":"2020-12-15T09:58:50","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=21963"},"modified":"2020-12-15T09:58:50","modified_gmt":"2020-12-15T09:58:50","slug":"role-of-cost-in-decision-making-in-healthcare-industry-where-would-you-most-likely-find-each-of-the-following-expenses-listed-administration-physical-therapy-nursing-or-maintenance","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/12\/15\/role-of-cost-in-decision-making-in-healthcare-industry-where-would-you-most-likely-find-each-of-the-following-expenses-listed-administration-physical-therapy-nursing-or-maintenance\/","title":{"rendered":"ROLE OF COST IN DECISION MAKING IN HEALTHCARE INDUSTRY. Where would you most likely find each of the following expenses listed: Administration, Physical Therapy, Nursing, or Maintenance?"},"content":{"rendered":"<style type=\"text\/css\"><\/style><h4>ROLE OF COST IN DECISION MAKING IN HEALTHCARE INDUSTRY. Where would you most likely find each of the following expenses listed: Administration, Physical Therapy, Nursing, or Maintenance?<\/h4>\n<p>Please answer all questions thoroughly and no plagarism. Please review all answers.<\/p>\n<p>Course material: Neumann, B. R., Clement, J. P., and Cooper, J. C. Financial Management: Concepts and Applications for Health Care Organizations. Dubuque, IA: Kendall\/Hunt Publishing Company, 1999, 239.<\/p>\n<p>1. Where would you most likely find each of the following expenses listed: Administration, Physical Therapy, Nursing, or Maintenance?<\/p>\n<p>a. The Administrator\u2019s salary<\/p>\n<p>b. Pharmacy supplies<\/p>\n<p>c. Crutches<\/p>\n<p>d. Fuel<\/p>\n<p>e. Clerical office help<\/p>\n<p>f. Office supplies<\/p>\n<p>g. Physical therapy salaries<\/p>\n<p>h. The salary for the Director of Nursing<\/p>\n<p>i. RN wages<\/p>\n<p>j. Snowplowing expenses<\/p>\n<p>k. Staff education on how to use crutches with a patient<\/p>\n<p>l. Health insurance for the clerical staff in the physical therapy department.<\/p>\n<p>2. Identify each of the following as either direct costs or indirect costs?<\/p>\n<p>a. Real estate taxes<\/p>\n<p>b. Clinic telephone expense<\/p>\n<p>c. Oil for the heat for the whole facility<\/p>\n<p>d. Emergency room medical supplies<\/p>\n<p>e. Liability insurance<\/p>\n<p>f. Nursing wages for the operating room<\/p>\n<p>g. Food for the residents in the medical surgical unit<\/p>\n<p>h. Diapers for the babies in the nursery<\/p>\n<p>i. Computer system for the facility<\/p>\n<p>j. Marketing expense for the new wing<\/p>\n<p>3. What is the contribution margin in the following example?<\/p>\n<p>a. Revenues: $1,200,000<\/p>\n<p>b. Variable Costs: $ 215,000<\/p>\n<p>c. Fixed Costs: $1,000,000<\/p>\n<p>What is the contribution margin percentage?<\/p>\n<p>4. Explain, in your own words, the relative advantages and disadvantages of each of the three primary cost allocation methods (Direct Allocation, Step-Down Allocation, and Reciprocal Allocation).<\/p>\n<p>5. Using the following example, allocate service center costs to each of the three revenue centers using the step-down method:<br \/>\nFull-time Costs Square Feet Meals Employees<br \/>\nService Centers<br \/>\nMaintenance $150,000 \u2014- 2,500 10<br \/>\nDietary 400,000 10,000 \u2014- 15 Administrative 600,000 20,000 2,500 10<br \/>\nRevenue Centers<br \/>\nLaboratory 600,000 30,000 2,500 20<br \/>\nRadiology 800,000 40,000 2,500 30<br \/>\nNursing 2,000,000 100,000 30,000 50<\/p>\n<hr \/>\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>ROLE OF COST IN DECISION MAKING IN HEALTHCARE INDUSTRY. Where would you most likely find each of the following expenses listed: Administration, Physical Therapy, Nursing, or Maintenance? Please answer all questions thoroughly and no plagarism. Please review all answers. Course material: Neumann, B. R., Clement, J. P., and Cooper, J. C. Financial Management: Concepts and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21963","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ROLE OF COST IN DECISION MAKING IN HEALTHCARE INDUSTRY. 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