LAB MANAGEMENT QUIZ 3
MLT-MLS UAMS QUESTIONS
AND COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
, Goal - Answer: A broad statement focusing on the organizations mission
(Example: "the laboratory will increase cost effectiveness")
Direct costs - Answer: traced to a specific activity
(Example: labor, reagents)
Indirect costs - Answer: Not directly specific to an activity
(Example: inspection fees, instrument depreciation, overhead costs)
Fixed costs - Answer: do not vary as test volume changes
(example: utilities, salaries)
Variable costs - Answer: fluctuate with change in volume
(example: reagents and supplies)
Capital - Answer: Calculated for a three year period, involves placement of old equipment or addition of
new.
Operational - Answer: Based on cash sources and expenditures, and cover a 12 month period. Includes
salaries, education and travel, each section's operating cost (equip, reagents, supplies, expendables) or
donor blood (purchased from OBI or Red Cross)
Service - Answer: Contractual: services that will be needed on a regular bases like vendor contracts and
equipment services agreements. Time and Materials: You call for service only when needed.
Strategic - Answer: An investment that will not show a positive return, but create a more competitive
environment (computer systems)
Cash - Answer: equipment you can expect to keep over 5 years and the only option (microscopes,
fridges, centrifuge)
MLT-MLS UAMS QUESTIONS
AND COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
, Goal - Answer: A broad statement focusing on the organizations mission
(Example: "the laboratory will increase cost effectiveness")
Direct costs - Answer: traced to a specific activity
(Example: labor, reagents)
Indirect costs - Answer: Not directly specific to an activity
(Example: inspection fees, instrument depreciation, overhead costs)
Fixed costs - Answer: do not vary as test volume changes
(example: utilities, salaries)
Variable costs - Answer: fluctuate with change in volume
(example: reagents and supplies)
Capital - Answer: Calculated for a three year period, involves placement of old equipment or addition of
new.
Operational - Answer: Based on cash sources and expenditures, and cover a 12 month period. Includes
salaries, education and travel, each section's operating cost (equip, reagents, supplies, expendables) or
donor blood (purchased from OBI or Red Cross)
Service - Answer: Contractual: services that will be needed on a regular bases like vendor contracts and
equipment services agreements. Time and Materials: You call for service only when needed.
Strategic - Answer: An investment that will not show a positive return, but create a more competitive
environment (computer systems)
Cash - Answer: equipment you can expect to keep over 5 years and the only option (microscopes,
fridges, centrifuge)
