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HCA 502 Final Exam 2024 With 100% Correct Answers Guarantee Pass

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HCA 502 Final Exam 2024 With 100% Correct Answers Guarantee Pass

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  • September 12, 2024
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HCA 502 Final Exam



1. Direct Costs

Answer Are traced to cost objects, and indirect costs are allocated to cost objects



2. Common bases for the allocation of indirect expenses include

Answer Direct Ex- penses, Revenue, and Services Delivered



3. Switching from one allocation base to another will

Answer Change department profitability but have no effect on organizational profitability



4. Pat Riley is a profit center manager. Generally speaking, Riley is responsible for

Answer Inflow and Outflow, maximizing the difference between actual and budgeted profit



5. T/F Direct costs can be traced, while indirect costs have to be allocated

Answer True






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6. T/F Indirect costs are often allocated based on the number of services delivered

by a health care department

Answer True



7. T/F In a profit center, the manager is responsible for revenue (inflow) and expenses

(outflow)

Answer True



8. T/F In a cost center, the manager is responsible for revenue (inflow) and expenses

(outflow)

Answer False



9. T/F One way to think of product cost is as necessary to the department, unit, and so on, to

deliver the service, while period costs are necessary to support the organization itself.

Answer True



10. Total variable cost is a cost that





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Answer Changes in direct proportion with changes in activity levels



11. Marginal cost is

Answer The change in total cost divided by the change in total activity (or output)



12. The efficient output level occurs when

Answer Average fixed cost is minimized



13. Cross Creek Clinic has revenue totaling $200,000. The clinic has costs totaling

$100,000; 60% is variable costs and 40% is fixed cost. What is the clinic's

contribution margin, expressed in dollars?

Answer $140,000



14. T/F The most frequent pattern of semivariable costs is the step pattern

Answer -

True









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15. T/F Average variable cost remains constant as volume increases but will increase at

the point where additional resources are needed to complete work

Answer True



16. T/F An organization maximizes its profit when average total cost is mini- mized

Answer False



17. T/F The manager must use judgement in analyzing mixed costs for the step method and

the predominant characteristics method. Therefore, both methods are objective.

Answer False



18. T/F The contribution margin is computed by subtracting variable cost from net

revenues

Answer True









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