1. The Dental Services department of Our Town Community Health Center provides 3services: Routine examinations, cleanings, and fillings.The fully allocated costs in 2020 for the Dental Services Department were $600,000.Information on the services performed in 2020 are listed in the table below.Total Charges Billed300,000187,500210,000Service#ProceduresTotal Revenues2,0001,500700$260,000$170,000$210,000ExamsCleaningsFillingsA) Using the Cost to Charge Ratio Method using charges, what is the cost incurred during2020 for the Dental Services Department to perform exams, cleanings, and fillings (inaggregate)?B) What is the average cost per exam, per deaning, and per filling?2) The Dental Services Department Manager just found out about another way to estimatetheir service costs: the RVU Method.Exams have an RVU of 1Cleanings have an RVU of 0.75Fillings have an RVU of 3A) How many RVUs did the Dental Services Department produce in 20207?B) What is the cost per RVU?9 Using the RVU method, how much of the Dental Services Departments Fullyallocated costs were due to performing exams, cleanings, and fillings? (I.e, totalcosts for each of those services)D) What were their costs per exam, per cleaning, and per filling?E) How do the costs estimated using the RVU method compare to the costs estimatedusing CCR? Which method do you recommend they use.NEED 2C 2D 2EPlease be careful its my last question take ur time and give correct and unique answer

Cost to Charge Ratio - It is calculated as hospital's total gross charges divided by its total…

Answered: 1. The Dental Services department of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3. Please complete the journal entries for this St. Joseph’s Hospital began operations in December 2023 with patient service revenues totaling $980,000 (based on customary rates) for the month. Of this, $207,000 is billed to patients, representing their insurance deductibles and copayments. The balance is billed to third-party payors, including insurance companies and government health care agencies. St. Joseph’s estimates that 20 percent of these third-party payor charges will be deducted by contractual adjustment. The hospital’s fiscal year ends on December 31. Required: Prepare the journal entries for December 2023. Assume 15 percent of the amounts billed to patients will be reduced through implicit price adjustments. Prepare the journal entries for 2024 assuming the following: $102,000 is collected from the patients during the year, and $9,800 of price adjustments are granted to individuals. Actual contractual adjustments total $157,000. The remaining receivable from…
Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance. Program administrators' salaries. General administrative overhead* Total fixed expenses Net operating income (loss) Total $ 923,000 474,000 449,000 69,300 43,100 114,100 184, 600 411,100 $ 37,900 Req 1A Home Nursing $ 265,000 119,000 146,000 Req 1B 8,200 20,600 40,300 53,000 122, 100 $ 23,900 *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last year's net operating income of $37,900 to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program. Req 2A The…
Jackson County Senior Services is a nonprofit organization providing three services to seniors who live in their own homes-home nursing, Meals on Wheels, and housekeeping. Revenue and expense data for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead Total fixed expenses Net operating income (loss) "Allocated on the basis of program revenues. Meals on Wheels $ 408,000 Total $925,000 Home Nursing $ 264,000 473,000 117,000 452,000 147,000 203,000 205,000 Housekeeping $ 253,000 153,000 100,000 69,700 9,000 40,300 20,400 43,700 20,300 8,000 15,400 115,400 40,500 38,300 36,600 185,000 52,800 81,600 50,600 413,800 122,600 168,200 123,000 $ 38,200 $ 24,400 $ 36,800 $ (23,000) The head administrator of Jackson County Senior Services, Judith Miyama, is considering discontinuing the housekeeping program. The depreciation in housekeeping is for a small van used to…
Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead* Total fixed expenses Net operating income (loss) Req 1A Total $ 930,000 481,000 449,000 Req 1B 69,800 42,700 Req 2A 113,800 186,000 412,300 $ 36,700 Req 2B Home Nursing $ 266,000 120,000 146,000 Complete this question by entering your answers in the tabs below. 8,500 20,300 40,100 53,200 122, 100 $ 23,900 Req 1A *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last year's net operating income of $36,700 to be unsatisfactory; therefore, she…
Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead* Total fixed expenses Net operating income (loss) Total $ 900,000 490,000 410,000 68,000 42,000 115,000 180,000 405,000 $ 5,000 Req 1A Home Nursing $ 260,000 120,000 140,000 Req 1B Req 2A Meals On Wheels $ 400,000 210,000 190,000 *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last year's net operating income of $5,000 to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program. Required:…
Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance. Program administrators' salaries General administrative overhead* Total fixed expenses Net operating income (loss) Total $ 924,000 469,000 455,000 70,500 43,500 114,100 184,800 412,900 $ 42,100 Home Nursing $ 264,000 119,000 145,000 8,900 20,300 40,200 52,800 122, 200 $ 22,800 Meals On Wheels $ 409,000 194,000 215,000 40,800 7,300 38,800 81,800 168, 700 House- keeping $ 251,000 156,000 95,000 20,800 15,900 35,100 50,200 122,000 $ 46,300 $ (27,000) *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last…
Jackson County Senior Services is a nonprofit organization providing three services to seniors who live in their own homes-home nursing, Meals on Wheels, and housekeeping. Revenue and expense data for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead* Total fixed expenses Net operating income (loss) Home Total Nursing $ 929,000 $ 270,000 471,000 112,000 458,000 158,000 69,800 44,000 8,900 20,800 115,800 40,800 185,800 54,000 415,400 124,500 $ 42,600 $ 33,500 Required 1A Required 1B *Allocated on basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, is considering discontinuing the housekeeping program. The depreciation in housekeeping is for a small van used to carry the housekeepers and their equipment from job to job. If the program were discontinued, the van would be donated to a charitable organization.…
3. St. Joseph’s Hospital began operations in December 2023 with patient service revenues totaling $980,000 (based on customary rates) for the month. Of this, $207,000 is billed to patients, representing their insurance deductibles and copayments. The balance is billed to third-party payors, including insurance companies and government health care agencies. St. Joseph’s estimates that 20 percent of these third-party payor charges will be deducted by contractual adjustment. The hospital’s fiscal year ends on December 31. Required: Prepare the journal entries for December 2023. Assume 15 percent of the amounts billed to patients will be reduced through implicit price adjustments. Prepare the journal entries for 2024 assuming the following: $102,000 is collected from the patients during the year, and $9,800 of price adjustments are granted to individuals. Actual contractual adjustments total $157,000. The remaining receivable from third-party payors is collected. Note: For all…
Prepare journal entries to record the following transactions of a nonprofit hospital, with expense transactionscategorized by function:1. The hospital billed its uninsured patients for $300,000. Based on historical experience, it expects tocollect 45 percent of that amount over time.2. Nurses and doctors employed by the hospital were paid their salaries, $120,000.3. The chief administrative officer was paid her salary of $12,000.4. The hospital paid its utility bill, $6,000.5. Depreciation on the equipment was $40,800.6. Several adults donated their time (worth $6,000) selling merchandise in the hospital gift shop.7. The hospital billed Medicare $120,000 for services provided at its established rates. The prospectivebilling arrangement gives Medicare a 40 percent discount from these rates.8. A contribution without donor restrictions of $4,800 was received. If no adjustment is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields.
3. St. Joseph’s Hospital began operations in December 2023 with patient service revenues totaling $980,000 (based on customary rates) for the month. Of this, $207,000 is billed to patients, representing their insurance deductibles and copayments. The balance is billed to third-party payors, including insurance companies and government health care agencies. St. Joseph’s estimates that 20 percent of these third-party payor charges will be deducted by contractual adjustment. The hospital’s fiscal year ends on December 31. Required: Prepare the journal entries for December 2023. Assume 15 percent of the amounts billed to patients will be reduced through implicit price adjustments. Prepare the journal entries for 2024 assuming the following: $102,000 is collected from the patients during the year, and $9,800 of price adjustments are granted to individuals. Actual contractual adjustments total $157,000. The remaining receivable from third-party payors is collected. Note: For all…
An outpatient surgery center performs 10,000 procedures in 2020 and incurs a total cost for utilities equal to $20,000. In 2021, the center performs 12,000 procedures and incurs a utilities cost equal to $22,000. The total fixed cost of utilities (either year) is _____________ .
Mendez Hospital showed the following major hospital costs at various levels of activity for CY 2020: Month Hospital Admission Major Hospital Cost(P) February 1,300 P850,000.00 March 8,500 P1,350,000.00 April 1,600 P1,150,000.00 May 1,400 P950,000.00 June 1,200 P800,000.00 July 200 P50,000.00 August 1,650 P1,200,000.00 September 1,550 P1,050,000.00 The breakdown of the major hospital costs in the month of May at 1,400 hospital admission is as follows: Accommodation Expense (Variable) P400,000.00 Utilities (Fixed) P300,000.00 Medicine (Mixed) P250,000.00 Total Overhead Cost P950,000.00 Requirements: Determine how much of major hospital cost for the month of August of P1,200,000.00 consisted of medicine cost Using high-low method, determine the cost function for Medicine Using high-low method, determine the cost function for major hospital cost What would be the…

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