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Chapter 2 HW i Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 McCullough Hospital uses a job-order costing system to assign costs to its patients. Its direct materials include a variety of items such s pharmaceutical drugs, heart valves, artificial hips, and pacemakers. Its direct labor costs (e.g., surgeons, anesthesiologists, adiologists, and nurses) associated with specific surgical procedures and tests are traced to individual patients. All other costs, such 15 points as depreciation of medical equipment, insurance, utilities, incidental medical supplies, and the labor costs associated with around-the- clock monitoring of patients are treated as overhead costs. Historically, McCullough has used one predetermined overhead rate based on the number of patient-days (each night that a patient spends in the hospital counts as one patient-day) to allocate overhead costs to patients. Recently a member of the hospital's accounting staff has suggested using two predetermined overhead rates (allocated based on the number of patient-days) to improve the accuracy of the costs allocated to patients. The first overhead rate would include all overhead costs within the Intensive Care Unit (ICU) and the second overhead rate would include all Other overhead costs. Information pertaining to the hospital's estimated number of patient-days, its estimated overhead costs, and two of its patients-Patient A and Patient B-is provided below: TCU other Total Estimated number of patient-days 2,500 Estimated fixed overhead cost $ 4, 122, 500 22,506 25,000 Estimated variable overhead cost per patient-day $ 286 $22, 005,000 117 $26, 127,500 Patient A Patient B Direct materials 5,000 $ 26, 250 6,700 Direct labor Total number of patient-days (including ICU) 37,000 Number of patient-days spent in ICU Required: 1. Assuming McCullough calculates two overhead rates as recommended by the staff accountant, calculate: . The ICU and Other overhead rates. b. The total cost, including direct materials, direct labor and applied overhead, assigned to Patient A and Patient B. 2. Assuming McCullough continues to use only one predetermined overhead rate, calculate: a. The predetermined overhead rate. 6. The total cost, including direct materials, direct labor and applied overhead, assigned to Patient A and Patient B. Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) x Answer is complete but not entirely correct. 1a. Predetermined ICU overhead rate 1,935.00 @ per patient-day Predetermined Other overhead rate 1,095.00 per patient-day 1b. Total cost for patient A 47,756 X Total cost for patient E 66,101 X 2a. Predetermined overhead rate 1,935.00 * per patient-day 2b . Total cost for patient A 46,580 Total cost for patient B 78,050 x Graw