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LSUS MHA 706 FINAL EXAM 2024/FINANCIAL MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS$27.99
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LSUS MHA 706 FINAL EXAM 2024/FINANCIAL MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
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Course
LSUS MHA 706
Institution
LSUS MHA 706
LSUS MHA 706 FINAL EXAM 2024/FINANCIAL MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
LSUS MHA 706 FINAL EXAM 2024/FINANCIAL
MANAGEMENT MIDTERM/ LATEST 2024 WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+ 100% GUARANTEED TO PASS CONCEPTS
Patient Service Departments are...-ANSWER-
often called revenue centers
Direct Costs are...-ANSWER-
costs unique and exclusive to a department
"Dollars in the Cost Pool" / "Total Volume of Cost Driver" =-ANSWER-
Allocation Rate
Effective cost drivers should have what characteristics(s)?-ANSWER-
-Promote organizational cost reduction
,-Perceived as being fair
__________ is NOT a type of allocation method?-ANSWER-
Step-Up Method
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
-Housekeeping
TRUE/FALSE: Once a company uses the Direct Method to allocate costs to
revenue-producing departments within the facility - the total level of expenses
decreases for the organization.-ANSWER-
False
When using the direct cost allocation system - often you are allocating the cost
of __________ to Patient Service Departments.-ANSWER-
Support (overhead) Departments
, __________ are accounting methods to account for "cost" at an individual
service level.-ANSWER-
Time Driven-Costing (TDBC)
Activity Based Costing (ABC)
Cost-to-Charge Ratio (CCR)
Relative Value (RVU)
__________ are 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.-ANSWER-
Cost Driver is the...
basis cost pool will be allocated
Cost Pool is the...-ANSWER-
overhead amount to be allocated
Overhead Departments are...
often called cost centers
Indirect Costs-ANSWER-
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