BUA202 Maine Standard Costs and Operating Performance Measures Assignment

Anonymous
timer Asked: Apr 13th, 2019
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Question Description

Hello friend,

I am currently taking an online course that I need help with. What I need done is the homework and quiz that is due really soon. This course is online, and you will be provided with the access to it. There is a syllabus and textbook that will be provided to you. Feel free to use the course content stuff in the portal's folders as well.

Attached are images that provide guidance on how to navigate the website, as well as what the homework looks like.

Chapter 10: Standard Costs and Operating Performance Measures Part I is WHAT YOU'LL CLICK ON.

is the thing you click on. COMPLETE BOTH THE HOMEWORK AND QUIZ. ONCE YOU ARE DONE WITH THE HOMEWORK, DO NOT SUBMIT IT DIRECTLY BUT ATTACH IT HERE.

ONCE AGAIN, COMPLETE THE HOMEWORK AND ATTACH IT HERE ONLY. IF YOU SUBMIT IT DIRECTLY I WILL BE FORCED TO ASK FOR A REFUND.

BUA202 Maine Standard Costs and Operating Performance Measures Assignment
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BUA202 Maine Standard Costs and Operating Performance Measures Assignment
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BUA202 Maine Standard Costs and Operating Performance Measures Assignment
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BUA202 Maine Standard Costs and Operating Performance Measures Assignment
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Tutor Answer

FrankRose23
School: UCLA

Here is the excel solution

Data P10-1:
John Fleming, chief administrator for Valley View Hospital, is concerned about the costs for tests in the
hospital's lab. Charges for lab tests are consistently higher at Valley View than at other hospitals and
have resulted in many complaints. Also, because of strict regulations on amounts reimbursed for lab
tests, payment received from insurance companies and governmental units have not been high enough
to cover lab costs.
Mr. Fleming has asked you to evaluate costs in the hospital's lab for the past month. The following
information is available.
a. Two types of tests are performed in the lab--blood tests and smears. During the past month, 1800
blood tests and 2,400 smears were performed in the lab.
b. Small glass plates are used in both types of tests. During the past month, the hospital purchased
12,000 plates at a cost of $28,200. This cost is net of a 6% quantity discount. 1,500 of these plates
were unused at the end of the moth; no plates were on hand at the beginning of the month.
c. During the past month, 1,150 hours of labor time were recorded in the lab at a cost of $13,800.
d. The lab's variable overhead cost last month totaled $7,820.
Valley View Hospital has never used standard costs. By searching industry literature, however you have
determined the following nation wide averages for hospital labs.
Plates: Two plates are required per lab test. These plates cost $2.50 each and are disposed of after the
test is completed.
Labor: Each blood test should require 0.3 hours to complete, and each smear should require 0.15 hours
to complete. The average cost of this lab time is $14 per hour.
Overhead: Overhead cost is based on direct labor-hours. The average rate for variable overhead is $6 per
hour.
Much of the information above is summarized below:
VALLEY VIEW HOSPITAL
Number of blood tests
Number of smears
Number of plates purchased
Cost of plates
Quantity discount allowed
Unused plates at month end
Labor hours
Cost of labor hours
Variable overhead costs
Nationwide averages:
Number of plates per test
Cost per plate
Time for blood test (hours)
Time for smear (hours)
Average cost of lab time per hour
Variable overhead rate per hour

1,800
2,400
12,000
$28,200
6%
1,500
1,150
$13,800
$7,820

2
$2.50
0.30
0.15
$14.00
$6.00

Required:
1. Compute a materials price variance fo...

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Anonymous
Thanks, good work

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