HCM 416 FINAL EXAM 2024/2025 QUESTIONS AND ANSWERS WITH COMPLETE 100% VERIFIED SOLUTIONS
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Course
HCM 416
Institution
HCM 416
HCM 416 FINAL EXAM 2024/2025 QUESTIONS AND ANSWERS WITH COMPLETE 100% VERIFIED SOLUTIONS
fixed cost- contribution margin per unit
break even volume=
revenues-variable cost
contribution margin=
(Budgeted volume x budgeted price) - (Actual volume x actual price)
total variance=
Actual volume...
(Budgeted volume x budgeted price) - (Actual volume x actual price)
total variance=
Actual volume x (Actual price - budgeted price)
price variance=
hourly rate x 2080 x benefit rate
salary and benefits cost=
Clinic visits per weekday x number of days in operation x variable salary cost per
visit.
Variable salary cost=
Total variable costs/number of visits
variable cost per visit=
Actual revenue - static revenues
revenue variance=
number given/cost driver
allocation rate=
, total revenue-total variable cost + total fixed cost
taxable income=
Contribution Margin
The amount remaining from sales revenues after all variable expenses have been
deducted.
cost pool
a grouping of individual indirect cost items
cost driver
the primary factor that causes a cost
cost allocation
Process of assigning indirect costs to products, services, people, business units, etc.
variable costs
costs that vary with the quantity of output produced
Examples of variable costs
supplies
Examples of fixed costs
Wages and benefits,Rent, Depreciation Utilities
zero-baes budget
each budget is started from scratch
Statistic Budget
the foundation budget
revenue budget
used to forecast revenues
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