Mha 706 final Study guides, Class notes & Summaries

MHA 706 FINAL-LORD questions & answers

MHA 706 FINAL-LORDDirect Costs - correct answer Costs unique and exclusive to a department. GENERATE REVENUE Ex- costs associated with providing the clinical testing such as staff and supplies. Indirect costs (overheads) - correct answer Costs associated with shared resources used by the entire organization Ex-costs associated with central services such as human resources and finance Cost Allocation - correct answer Assign all overhead costs to the departments that create the need...

MHA 706 FINAL-LORD questions & answers

MHA 706 FINAL-LORD Direct Costs - CORRECT ANSWER-Costs unique and exclusive to a department. GENERATE REVENUE Ex- costs associated with providing the clinical testing such as staff and supplies. Indirect costs (overheads) - CORRECT ANSWER-Costs associated with shared resources used by the entire organization Ex-costs associated with central services such as human resources and finance Cost Allocation - CORRECT ANSWER-Assign all overhead costs to the departments that create the need for s...

Indirect Costs - CORRECT ANSWER-Are costs associated with shared resources used by the entire organization Cost Driver - CORRECT ANSWER-Is the basis on which the cost pool will be allocated Cost Pool - CORRECT ANSWER-Is the overhead amount to be allocated Overhead departments - CORRECT ANSWER-Are often called costs centers Patient Service Departments - CORRECT ANSWER-Are often called revenue centers Direct Costs - CORRECT ANSWER-Are costs unique and exclusive to a department When you d...

Cost Driver is the... basis cost pool will be allocated Cost Pool is the... overhead amount to be allocated Overhead Departments are... often called cost centers Indirect Costs Costs of shared resources used by the entire organization Patient Service Departments are... often called revenue centers Direct Costs are... costs unique and exclusive to a department "Dollars in the Cost Pool" / "Total Volume of Cost Driver" = Allocation Rate Effective cost drivers should have what cha...

QUESTIONS AND ANSWERS

Indirect Costs - Are costs associated with shared resources used by the entire organization Cost Driver - Is the basis on which the cost pool will be allocated Cost Pool - Is the overhead amount to be allocated Overhead departments - Are often called costs centers Patient Service Departments - Are often called revenue centers Direct Costs - Are costs unique and exclusive to a department When you divide the "Dollars in the Cost Pool" by "Total Volume of Cost Driver" - you have determin...

MHA 706 FINAL EXAM 2023/2024 COMPLETE QUESTIONS WITH VERIFIED ANSWERS/ALREADY PASSED+

Lsus Mha 706 Final - Lord Questions and answers latest update