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