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Problems?

 

Group B

 

1. P6-77B

 

Analyze cost behavior at a hospital using various cost estimation methods (Learning

 

Objectives 1, 2, 3, 4 & 5)

 

Freida Dudley is the Chief Operating Officer at Memorial Hospital in Scandia,

 

Minnesota. She is analyzing the hospital?s overhead costs but is not sure whether nursing

 

hours or the number of patient days would be the best cost driver to use for predicting the

 

hospital?s overhead. She has gathered the following information for the last six months of

 

the most recent year:

 

Hospital

 

Overhead

 

Costs

 

July

 

$462,000

 

August

 

$510,000

 

September $401,000

 

October $445,000

 

November $556,000

 

December $430,000

 

Month

 


 

1.

 


 

Nursing Number of

 

Hours Patient Days

 

22,900

 

26,300

 

17,500

 

21,700

 

30,000

 

19,000

 


 

3,610

 

4,330

 

4,250

 

3,460

 

5,740

 

3,230

 


 

Overhead Cost

 

per Nursing

 

Hour

 

$20.17

 

$19.39

 

$22.91

 

$20.51

 

$18.53

 

$22.63

 


 

Overhead Cost

 

per Patient Day

 

$127.98

 

$117.78

 

$?94.35

 

$128.61

 

$?96.86

 

$133.13

 


 

Requirements

 

1. Are the hospital?s overhead costs fixed, variable, or mixed? Explain.

 

2. Graph the hospital?s overhead costs against nursing hours. Use Excel or graphby

 

hand.

 

3. Graph the hospital?s overhead costs against the number of patient days. Use Excel

 

or graph by hand.

 

4. Do the data appear to be sound or do you see any potential data problems?

 

Explain

 


 

5. Use the high-low method to determine the hospital?s cost equation using nursing

 

hours as the cost driver. Predict total overhead costs if 23,500 nursing hours

 

arepredicted for the month.

 

6. Ms. Dudley runs a regression analysis using nursing hours as the cost driver

 

topredict total hospital overhead costs. The Excel output from the regression

 

analysisis shown next:

 


 

If 23,500 nursing hours are predicted for the month, what is the total predicted hospital

 

overhead?

 

7. Ms. Dudley then ran the regression analysis using number of patient days as the

 

cost driver. The Excel output from the regression is shown here:

 


 

If 3,300 patient days are predicted for the month, what is the total predicted hospital overhead?

 

8. Which regression analysis (using nursing hours or using number of patient days as

 

the cost driver) produces the best cost equation? Explain your answer

 


 

 


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