Describe the following 4 types of costs:
Dynamic Medical Suppliers Inc. has sales of $300000 for the calendar year of 2010.Its total variable costs equal $107700.
Calculate the contribution margin ratio and determine whether it presents profit or loss to the organization.
Determine the number of full-time employees needed to cover multiple shifts based on information provided within the followingscenario:
Health care is a critical field and some agencies require thatstaff membersbe present at all times to ensure that there is adequate staff to care for the patients.For example a medical center that has both inpatient and outpatient units will require staff be present after normal business hours to provide care to those admitted to the inpatient unit.It is also important to ensure that there is sufficient staff to provide care to the number of patients being treated.This is imperative to managers when it comes to determining costs associated with salary and benefits.If an organization is overscheduling staff it could have a severe impact on the revenue because the staff-to-patient ratio would not be appropriate.
You create the schedule for the nursing staff in the pediatric intensive-care unit.Your daily staffing uses 6 registered nurses (RNs) working 8 hours and 2 licensed practical nurses (LPNs) working 3 hours.Determine the number of work hours required for 1 day.
Understanding financial ratios can help the health care organization analyze its credit.Financial ratios should be compared to other financial information within the organization.Values used in calculating financial ratios are taken from the balance sheet income statement and statement of cash flows.
The following are types of ratios:
Compute ratios using the provided data/information below.
Use the financial reports below to compute the requested financial ratios.Provide a brief statement (12 sentences) explaining the outcome of the ratio.
Dominion Plus Surgery CenterBalance SheetDecember 31 200XX
Dominion Plus Surgery CenterStatement of Revenue and ExpensesYear Ending 12/31/20XX
Using the information provided in Part II determine the break-even point for the organization.
Dynamic Medical Suppliers Inc. has sales of $375000 for the calendar year of 2010.Its total variable costs equal $63730.
Using information provided in Parts II and V identify actions the organizations management team can take to assist the organization in reaching its break-even point.
The organization can work hard to ensure that there is more revenue coming in than there are expenses going out.This was there as a gain versus a loss.It is management’s duty to stay abreast of the current sales through monitoring and reporting.If a decline is observed throughout the year management should discuss changes that must occur to increase sales and not experience any loss with leadership and the staff.