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MHA 706 Final Exam (Lord)|101 Questions and Answers 100% Correct
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MHA 706 Final Exam (Lord)|101 Questions and Answers 100% CorrectMHA 706 Final Exam (Lord)|101 Questions and Answers 100% CorrectMHA 706 Final Exam (Lord)|101 Questions and Answers 100% CorrectMHA 706 Final Exam (Lord)|101 Questions and Answers 100% CorrectMHA 706 Final Exam (Lord)|101 Questions and...

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  • October 10, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • indirect costs
  • mha 706 final exam lord101 questions and answer
  • mha 706 final exam lord101 answers
  • indirect costs answer are costs associated with
  • cost driver answer is the basis on which the co

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MHA 706 Final Exam (Lord)|101

Questions and Answers 100%

Correct


Indirect Costs - ANSWER-Are costs associated with shared resources used by

the entire organization




Cost Driver - ANSWER-Is the basis on which the cost pool will be allocated




Cost Pool - ANSWER-Is the overhead amount to be allocated




Overhead departments - ANSWER-Are often called costs centers




Patient Service Departments - ANSWER-Are often called revenue centers

,As an Accounting Manager - you are responsible for allocating the cost of

Facilities to other departments. What would be an appropriate cost driver for

you to use for this allocation. - ANSWER-Square footage of the department




Once a company uses the direct method to allocate indirect costs to

revenue-producing departments within the facility - the total level of

expenses decreases for the organization. - ANSWER-False




Direct Costs - ANSWER-Are costs unique and exclusive to a department




When you divide the "Dollars in the Cost Pool" by "Total Volume of Cost

Driver" - you have determined .... - ANSWER-The Allocation Rate




Effective cost drivers should have the following characteristic(s) - ANSWER--

Perceived as being fair

-Promote Organizational Cost Reduction




Which of the following is NOT a type of allocation method. - ANSWER-step-up

method

, When using the direct cost allocation system - often you are allocating the

cost of xxxx to Patient Service Departments - ANSWER-Support (overhead)

departments




Select all of the following options that are accounting methods to account for

"costs" at an individual service level - ANSWER-Activity Based Costing (ABC)

Relative Value Unit (RVU)

Time-Driven Activity Based Costing (TDABC)

Cost-to-Charge Ratio (CCR)




Select all of the true assumption(s) of the Cost-to-Charge Ratio Method. -

ANSWER-Each service consumes overhead costs in the same proportion as

the department as a whole

Charges reflect the level of intensity of the service provided




Select all the "corporate" bond types - ANSWER-mortgage bonds, debenture

bonds, subordinated debenture bonds

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