(TCO 4) ___is a phase of management that is longer than budgeting, but shorter than planning. – Homeworkmade

DOWNLOAD: (TCO 4) ___is a phase of management that is longer than budgeting, but shorter than planning. – Homeworkmade

(TCO 4) ________________ is a phase of management that is longer than budgeting, but shorter than planning.

(TCO 4) The following is an example of a _____________ budget:
“The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy.”

(TCO 4) Efficiency is a relationship between:

(TCO 3) Which of the following is the first step in any budgetary process?

(TCO 3) Your controller has told you that the marginal profit of DRG 209 (major joint procedure) for a Medicare patient exceeds the marginal profit for an average charge patient. Why might this occur?

(TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):

(TCO 2) The _____ is a way for organizations to improve the collection and communication of financial and operating information.

(TCO 4) Based on the below information, what dollar effect did the increased admission rate have on cost?

(TCO 4)Based on the information below, assume that the only change in the original example data is that Blue Cross raises their discount to 20 percent. What price should be set? You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below: Budgeted Procedures $10,000 Budgeted Cost $400,000 Desired Profit $80,000 It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below: Payer Volume% Discount% Blue Cross 20 4 Unity PPO 15 10 Kaiser 10 10 Self Pay 5 40 50%

(TCO 4) What is the amount of variance that can be attributed to the difference between budgeted and actual volume? Use the following data to calculate the variances. The following information has been prepared for a home health agency. Budget Actual Wage Rate per Hour $16.00 $17.00 Fixed Hours 320 320 Variable Hours per Relative Value Unit (RVU) 1.0 1.1 Relative Value Units (RVUs) 1,000 1,200 Total Labor Hours 1,320 1,640 Labor Costs $21,120 $27,880 Cost per RVU $21.12 $23.23 Budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and the total variance to be explained is $2,536 Unfavorable ($27,880 – $25,344). Make sure to calculate the Budgeted Fixed Cost per Unit first. Be sure to specify whether the variance is favorable or unfavorable.

(TCO 2) What are the major reasons for accrual accounting?

(TCO 2) What is an audit (in the context of financial accounting)?

(TCO 1) What are social responsibility and ethics as they relate to business-oriented organizations? How should social responsibility and ethics affect the decisions of even for-profit companies?

(TCO 2) List and describe the three categories of net assets.