The cost of patient-days for a small town hospital is listed below. Answer the following questions. Cost
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Question:
The cost of patient-days for a small town hospital is listed below. Answer the following questions.
Cost Formula: y = $0.894x + $2,931
i) What is the variable cost? __________
ii) What is the fixed cost? _________
iii) What does x represent? ___________
iv) What does y represent? ___________
v) Whatistheexpectedcostfor47patient-days? (round to 2 decimal places) _________
vi) How many patient-days were there if the total cost was $3,021.29? (round to the nearest day) ________
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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