Exam (elaborations)
DLM (ASCP) Exam Questions and Answers 100% Correct| Latest Update 2024
- Course
- Institution
DLM (ASCP) Exam Questions and Answers 100% Correct| Latest Update 2024
[Show more]
Content preview
DLM (ASCP) Exam Questions and Answers 100%Correct| Latest Update 2024
Employment cycle - ✔✔covers all stages in the process of employing staff:
1. recruitment and acquisition costs (pre-employment screen)
2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution costs
analyze labor costs - ✔✔institutional labor cost evaluation (employment cycle)
technical evaluation of labor cost - assign labor costs to production activities that generate
expenses. helps manager identify where efforts are being expended and productivity
accounting and budgeting labor analysis - helps monitor staffing levels, productivity
and management performance against budget objectives
preanalytical time - ✔✔specimen collection, prep, instrument
analytical time - ✔✔performing/resulting tests
post analytical time - ✔✔reporting and routine maintenance
total hours - ✔✔productive hours + nonproductive hours
,productive hours - ✔✔actual worked hours includes overtime and training
nonproductive hours - ✔✔compensated but not worked. sick leave, vacation, bereavement, etc.
Full-time equivalent (FTE) - ✔✔An employee who works full-time, 40 hours per week,
2080 hours per year (total number of hours paid/ 2080)
171 or 177 hours - per month
Productivity Measurement - ✔✔workload unit (WLU)/ labor units
time studies - ✔✔time required for handling, testing, recording and reporting, daily and
periodic activities, maintenance and repair, and direct technical supervision.
paid productivity - ✔✔tests/ number paid hours
number of tests performed per paid hour.
worked productivity - ✔✔tests/ number worked
hours number of tests performed per worked hour
projected salary - ✔✔total paid hours x average hourly rate
average hourly rate - ✔✔salary expense/ paid hours
,supplies - ✔✔meet specific time and price criteria. have shelf life of less than a year.
economic ordering quantity (EOQ) - ✔✔Optimum amount to order at one time
economic ordering point (EOP) - ✔✔base/safety level for
reordering (annual usage/365 days) x lead time in days
optimal reordering time (ROT) - ✔✔best time to reorder to take advantage of EOQ and
EOP (EOQ/Annual Usage) x 365 days
Payback Period - ✔✔the amount of time required for an investment to generate cash
flows sufficient to recover its initial cost
payback period formula - ✔✔cost of investment / annual net cash flow
Average rate of return (ARR) - ✔✔calculates the average annual profit of an investment
project, expressed as a percentage of the initial sum of money invested
annual depreciation - ✔✔(cost - salvage value) / useful life
, Net Present Value (NPV) - ✔✔current value of an investment taking into account impact
of interest and inflation on earnings and anticipated revenue received of a period of years.
sum of present values of each net cash flow (each year)
Initial Rate of Return (IRR) - ✔✔the discount rate that makes the NPV of an investment zero.
top-down budget - ✔✔A process by which executive managers (hospital
administration/pathologists) create the budget, and that budget is then pushed down through the
rest of the organization.
bottom up budget - ✔✔A budgeting process that begins at the lowest levels of management
and filters up through the organization. comes from managers creating their own budget for
their sections
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now