Using the weighted procedure method setting rates, calculate the relative value and cost per procedure for the following lab procedures. Assume total lab cost of $1,500,000 and average hourly wage of $16.

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Procedure A B с D E Projected Volume 4000 6000 3000 5000 4000 Labor Minutes 15 13 11 10 12 Supply Expense 0.75 0.50 0.50 0.75 0.90 Procedure A B с D E Projected Volume 4000 6000 3000 5000 4000 Labor Minutes 15 13 11 10 12 Supply Expense 0.75 0.50 0.50 0.75 0.90