Mha 706 module 4 Study guides, Class notes & Summaries

MHA 706 Module 4 – Questions With Complete Solutions

MHA 706 Module 4 – Questions With Complete Solutions Patient Service Departments - CORRECT ANSWER-Are often called revenue centers Indirect Cost - CORRECT ANSWER-Are cost associated with shared resources used by the entire organization Direct Costs - CORRECT ANSWER-Are costs unique and exclusive to a department Overhead departments - CORRECT ANSWER-Are often called costs centers Cost Pool - CORRECT ANSWER-Is the overhead amount to be allocated Cost Driver - CORRECT ANSWER-Is the basi...

MHA 706 Module 4 – Questions With Complete Solutions

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

MHA 706 Module 4

MHA 706 Module 4Patient Service Departments - correct answer Are often called revenue centers Indirect Cost - correct answer Are cost associated with shared resources used by the entire organization Direct Costs - correct answer Are costs unique and exclusive to a department Overhead departments - correct answer Are often called costs centers Cost Pool - correct answer Is the overhead amount to be allocated Cost Driver - correct answer Is the basis on which the cost pool wil...

When you divide the "Dollars in the Cost Pool" by "Total Volume of Cost Driver" what have you determined? - Answer Allocation Rate What characteristics should a Effective cost drivers have? - Answer Perceived as being fair, Promote organizational cost reduction Types of allocation methods. - Answer Reciprocal Method, Step-Down Method, Direct Method

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

MHA 706 Module 4 questions with answers 2024/2025 Patient Service Departments - correct answer Are often called revenue centers Indirect Cost - correct answer Are cost associated with shared resources used by the entire organization Direct Costs - correct answer Are costs unique and exclusive to a department Overhead departments - correct answer Are often called costs centers Cost Pool - correct answer Is the overhead amount to be allocated Cost Driver - correct answer Is t...