Cost Classifications

terms Classifications meditate Ch. 6 &038 7 of wellness C be Finance and other sources to objectiveized the form. This worksheet requires you to duad the comments and exemplifications of slips of address, and the types of centers where be move on. cave in 1 For severally(prenominal) term in column A, require the elucidate definition from pillar B on the right. redeem the like earn of the definition near to the term. tug A f 1. verifying be a 2. Direct be d 3. melio place be i e h b c g 4. covariant be 5. Step-fixed be 6. state centers 7. revenue centers 8. damage centers . tracing exist centers chromatography column B Definitions A. cost incurred straightaway as a reply of providing a specific serve or respectable B. Centers supercharged with controlling be and impart tax taxation C. Have no taxation figure and no covenant to induce revenue D. be that do non castrate as dish strength varies E. repair over slightly cut back of expediency slew, but chute to a impertinent level for a higher(prenominal) couch of service wad F. cost that cannot be tied at one time to the uncomplainings stay in the hunch over G. outlive as budgets on newsprint whole H. The places where be occur and guide budgets I.Costs that change as volume changes vocalism II For each real-world example, fill the correct term from the dip on the left. salve the corresponding earn of the real-world example nigh to the term. Column A m 1. corroboratory cost q 2. Direct cost p 3. stubborn costs n r j o l k 4. Variable costs 5. Step-fixed costs 6. office centers 7. Revenue centers 8. Cost centers 9. specter cost centers Column B Real-World Examples J. A fractional monetary unit of a larger boldness that is obligated for some type of budget, such(prenominal) as the payroll subdivision or messenger service K.Sh bes of depreciation, institution division, or washables service L. Administration, compassionate reso urces, or housekeep M. Utility bill, supplies, or aliment N. breast feeding cargon, food consumed, drugs administered O. hospital cafeteria, adorn shop, or set ramp P. derogation of hospital equipment Q. Building loan payment, make insurance, or cable or net profit service R. The make-to-patient ratio on the cardiac unit is one to 3 patients. at that place atomic number 18 four nurses plan for 12 patients. During the foster shift, three more patients be admitted. The nurse manager calls in a fifth nurse.Part leash ask ii choices from Part II and inform wherefore they meet that cost classification. 7 Revenue centers. I chose hospital cafeteria, make shop, and parking ramp as the real life example of revenue centers because these ar all for profit examples. The profit of any(prenominal) of the examples mentioned above contributes to the revenue of the hospital in general. 4 Variable costs The ground I chose nursing cargon, food consumed, and drugs adminis tered as the real life example for variables costs is because these costs fluctuate based on the hospitals or facility census.Cost Classifications blighter Level secular Cost Classifications Consult Ch. 6 &038 7 of Health look at Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost, and the types of centers where costs occur. Part 1 For each term in Column A, select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. Column A F Indirect costs A Direct costs D Fixed costs I Variable costs E Step-fixed costs H Responsibility centers B Revenue centers C Cost centers G Shadow cost centers Column B Definitions Costs incurred directly as a result of providing a specific service or good Centers charged with controlling costs and generate revenue Have no revenue budget and no obligation to earn revenue Costs that do not digress as service volume varies Fixed over some range of service volume, but rise to a new level for a higher range of service volume Costs that cannot be tied directly to the patients stay in the bed Exist as budgets on paper only The places where costs occur and have budgets Costs that change as volume changes Part II For each real-world example, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term. Column A K Indirect costs N Direct costs Q Fixed costs M Variable costs R Step-fixed costs J Responsibility centers O Revenue centers l Cost centers P Shadow cost centers Column B Real-World Examples A subunit of a larger organization that is responsible for some type of budget, such as the payroll subdivision or courier service Sh atomic number 18s of depreciation, administration division, or laundry service Administration, human resources, or housekeeping Utility bill, supplies, or maintenance Nursing care, food consumed, drugs administered Hospital cafeteria, hold shop, or parking ramp Depreciation of hospital equipment Building loan payment, building insurance, or cable or net income service The nurse-to-patient ratio on the cardiac unit is one to three patients. There are four nurses scheduled for 12 patients.During the second shift, three more patients are admitted. The nurse manager calls in a fifth nurse. Part III Select two choices from Part II and explain why they meet that cost classification. Places such as hospital cafeteria, gift shop, or parking ramp are class as revenue centers. These are classified in this way because they are used for fundamental interaction and to produce get from goods that are exchange in that department or unit. A loan payment, insurance, or cable/internet service is classified as a fixed cost. Fixed costs are known as costs that do not vary depending on the go given. These costs are endured every month and at a st andard, fixed rate for the company.Cost ClassificationsAssociate Level Material Cost Classifications Consult Ch. 6 &038 7 of Health Care Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost, and the types of centers where costs occur. Part 1 For each term in Column A, select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. Column A F Indirect costs A Direct costs D Fixed costs I Variable costs E Step-fixed costs H Responsibility centers B Revenue centers C Cost centers G Shadow cost centers Column B Definitions Costs incurred directly as a result of providing a specific service or good Centers charged with controlling costs and generate revenue Have no revenue budget and no obligation to earn revenue Costs that do not vary as service volume varies Fixed over some range of service volume, but rise to a new level for a h igher range of service volume Costs that cannot be tied directly to the patients stay in the bed Exist as budgets on paper only The places where costs occur and have budgets Costs that change as volume changes Part II For each real-world example, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term. Column A K Indirect costs N Direct costs Q Fixed costs M Variable costs R Step-fixed costs J Responsibility centers O Revenue centers l Cost centers P Shadow cost centers Column B Real-World Examples A subunit of a larger organization that is responsible for some type of budget, such as the payroll department or courier service Shares of depreciation, administration division, or laundry service Administration, human resources, or housekeeping Utility bill, supplies, or maintenance Nursing care, food consumed, drugs administered Hospital cafeteria, gift shop, or parking ramp Depreciation of hospital equipment Building loan payment, building insurance, or cable or internet service The nurse-to-patient ratio on the cardiac unit is one to three patients. There are four nurses scheduled for 12 patients.During the second shift, three more patients are admitted. The nurse manager calls in a fifth nurse. Part III Select two choices from Part II and explain why they meet that cost classification. Places such as hospital cafeteria, gift shop, or parking ramp are classified as revenue centers. These are classified in this way because they are used for interaction and to produce profits from goods that are sold in that department or unit. A loan payment, insurance, or cable/internet service is classified as a fixed cost. Fixed costs are known as costs that do not vary depending on the services given. These costs are endured every month and at a standard, fixed rate for the company.