HSA 525 Week 8 Homework 7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3

HSA 525 Week 8 Homework 7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3

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Attachments: HSA 525 Week 8 HW7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3.docx [ Preview Here ]

Assignment Exercise 17–1: Variance Analysis

 

Greenview Hospital operated at 120% of normal capacity in two of its departments during the year. It operated 120% times 20,000 normal capacity direct labor nursing hours in routine services and it operated 120% times 20,000 normal capacity equipment hours in the laboratory. The lab allocates overhead

  1. Set up a worksheet for applied overhead costs and volume variance with a column for Routine Services Nursing and a second column for Laboratory.

Set up a worksheet for actual overhead costs and budget variance with a column for Routine Services Nursing and a second column for Laboratory

  1. Set up a worksheet for volume variance and budget variance totaling net variance with a column for Routine Services Nursing and a second column for Laboratory.

Assignment Exercise 17–2: Three-Level Revenue Forecast

 

Assumptions: for the base level (most likely) revenue forecast, assume $200 per procedure times 4 procedures per day times 5 days’ equals 20 procedures per week times 50 weeks per year equals 1,000 potential procedures per year.

For the best case revenue forecast, assume an increase in volume of one procedure per day average, for an annual increase of 250 procedures (5 days per week times 50 weeks equals 250). (The best case is if the practice gains a particular managed care contract.)

For the worst case revenue forecast, assume a decrease in volume of 2 procedures per day average, for an annual decrease of 500 procedures. (The worst case is if the practice loses a major payer.)

Audiologists were designated as “eligible for physician and other prescriber incentives” as discussed elsewhere. Thus the new service line was a logical move.

Assignment Exercise 17–3: Target Operating Income

 

Acme Medical Supply Company desires a target operating income amount of $100,000, with assumption inputs as follows:

  • • Desired (target) operating income amount = $100,000
  • • Unit price for sales = $80
  • • Variable cost per unit = $60
  • • Total fixed cost = $60,000

Compute the required revenue to achieve the target operating income and compute a contribution income statement to prove the totals.

Assignment Exercise 18–1: Estimate of Loss

 

You are the practice manager for a four-physician office. You arrive on Monday morning to find the entire office suite flooded from overhead sprinklers that malfunctioned over the weekend. Water stands ankle-deep everywhere. The computers are fried and the contents of all the filing cabinets are soaked. Your own office, where most of the records were stored, has the worst damage.

Assignment Exercise 18–2: Estimate of Replacement Cost

 

The landlord carries contents insurance that should cover the damage to the furnishings, equipment, and to the computers, and the insurance company adjuster will come tomorrow to assess the furnishings and equipment damage. However, your boss is sure that the insurance settlement will not cover replacement costs. Consequently, you have been instructed to prepare an estimate of what has been lost and/or damaged plus an estimate of what the replacement cost might be. How would you go about it? What would your summary of these losses look like?

 

Assignment Exercise 18–3: Benchmarking

 

Review the chapter text about benchmarking.

Required

 

  1. Select an organization: either from the Case Studies in Chapters 2728 or from one of the Mini-Case Studies in Chapters 2931.
  2. Prepare a list of measures that could be benchmarked for this organization. Comment on why these items are important for benchmarking purposes.

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