Variable cost
= (Cost at highest activity - Cost at lowest activity)/(Highest activity-Lowest activity)
= (30,370-19,190)/(4,850-2,700)
= 5.20 per test
Fixed cost = Total cost - Total Variable cost
= 30,370 - (4,850*5.20)
= 5,150
The equation would be Y = 5,150 + 5.20X
The number of blood tests performed and the related costs over the last nine months in...
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month Blood Tests Performed Blood Test Costs January 5,115 $ 58,968 February 6,600 $ 73,640 March 4,565 $ 52,478 April 4,015 $ 46,440 May 4,175 $ 48,746 June 3,300 $ 39,320 July 3,875 $ 44,752 August 5,010 $ 56,890 September 5,045 $ 57,958 Required: 1. Using the high–low method, estimate...
Check my wc The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month January February March April May June July August September Blood Tests Performed 5,120 5.400 4,695 4,290 4,425 3,600 4,020 5,315 5,245 Blood Test Costs $ 67,900 $ 70,530 $ 61,932 $ 56,782 $ 59,041 $48.570 $53,212 $ 69,419 $ 69,025 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost...
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QUESTION 4 The number of X-rays taken and X-ray costs over the last nine months in Beverly Hospital are given below: Month X-Rays Taken X-Ray Costs January ... 6,250 $28,000 February .. 7,000 $29,000 March .... 5,000 $23,000 April .......... 4,250 $20,000 May ........ 4,500 $22,000 June.......... 3,000 $17,000 July ............. 3,750 $18,000 August ... ... ... 5,500 $24,000 September ......... 5,750 $26,000 A. Using the high-low method, estimate the cost formula for X-ray costs. B. Using the cost formula...
Check my workCheck My Work button is now enabled1 Item 2 Item 2 10 points Item Skipped The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month Blood Tests Performed Blood Test Costs January 4,625 $ 81,516 February 7,750 $ 119,450 March 4,125 $ 74,504 April 3,680 $ 68,748 May 3,915 $ 72,178 June 3,000 $ 60,550 July 3,455 $ 65,688...
Multi Part Question. Please explain your answer -- The data below have been taken from the cost records of the Halifax General Hospital. The data relate to the costs of admitting patients at various levels of patient activity: Month May June July August September October November December Number of Patients Admitted 3,600 3,800 2,900 3,200 3,300 2,600 2,200 3,500 Admitting Department Costs $ 29,400 $ 30,400 $ 27,400 $ 28,000 $ 28,600 $ 26, 200 $ 25,600 $ 29,200 Required:...
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Deepa Dalal opened a free-standing radiology clinic. She had anticipated that the costs for the radiological tests would be primarily fixed, but she found that costs increased with the number of tests performed. Costs for this service over the past nine months are as follows: Month January February March Radiology Tests 2,800 2,600 3,100 3,500 3,400 3,700 April Total Cost $133,500 135,060 175,000 170,600 176,900 186,600 174,450 195,510 185,300 May June July August 3,840 4,100 3,450 September Required: + 1....
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Method of Least Squares, Goodness of Fit Deepa Dalal opened a free-standing radiology clinic. She had anticipated that the costs for the radiological tests would be primarily fixed, but she found that costs increased with the number of tests performed. Costs for this service over the past nine months are as follows: Month January February March April May Radiology Tests 2,800 2,600 3,100 3,500 3,400 3,700 3,840 4,100 3,450 Total Cost $133,500 135,060 175,000 170,600 176,900 186,600 174,450 195,510 185,300...