PRODUCTION COST STATEMENT

A S C H O O L D R E S S-C O D E

The AHRQ organization has several portfolios’ that are funded and supports research projects. Such portfolios are information technology, health patient safety, prevention and care management, and value portfolios. Within these portfolio’s, grants are there to fund new projects that relate to each category. Within each portfolio, research has been started and effectiveness of these projects is underway. Some clinical research projects are a set of priority conditions of importance to the Medicaid, Medicare, and SCHIP programs. Projected initiatives are to improve quality of care. The Value portfolio finds ways to reduce unnecessary cost and waste while maintaining or improving quality without adding cost which is a critical, national need (2012, p.5).

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Presently, cost and quality in health care are both indicators that are benchmarked in determining best healthcare practice. Two organizations both work towards meeting these objectives in healthcare, The Agency for Healthcare Research and Quality (AHRQ), a public agency and the Commonwealth Fund, a private agency.

Inventory at beginning of year . . . . . . . . . . . . . . . . Purchases less cost of items withdrawn for personal use . . . . . . . Cost of labor . . . . . . . . . . . . . . . . . . . . . Additional section 263A costs (attach statement) . . . . . . . . . . Other costs (attach statement) . . . . . . . . . . . . . . . Total. Add lines 1 through 5 . . . . . . . . . . . . . . . . Inventory at end of year . . . . . . . . . . . . . . . . . Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 Check all methods used for valuing closing inventory: (i) Cost as described in Regulations section 1.471-3 (ii) Lower of cost or market as described in Regulations section 1.471-4 Other (specify method used and attach explanation) (iii)

Number of skus was considered driver for Technical Support. The product weight was considered driver of resource consumption only for General & Administrative costs. Moreover, materials and direct labor were allocated based on the bill of materials and routings (exactly the way they were allocated in Standard Costing system). Finally, Material Handling & Setup, Order Processing and Production Planning were driven to products using number of orders. Consequently, ABC solves the major issue regarding the Standard Costing system: the assumption that all overhead costs can be included into one cost pool. All the drivers are summarized in exhibit 3. Exhibits 4 and 5 present respectively the ABC drivers and allocation rates.

Show all of your calculations and processes. Describe your answer for each question in complete sentences, whenever it is necessary.

The use of Manage care products has been increasing day by day by the individuals and entities. The products may have profound effects on the quality of care, and the technique used to shift by the physician, hospital, and other health care organization. Manage care product are helpful but hard to afford by certain number of people. To maintain in reducing healthcare cost and generating profits, the manage care products must be consistently maintained effective cost containment efforts (Randell, 2010). The effectiveness of the cost containment depends on the close utilization and implementation process enforced by various risk shifting techniques by the organization.

Kudler Fine Foods, though fictitious, is doing very well for itself—even when compared to a large supermarket chain like Walmart. When dividing the Net Income of Kudler Fine Foods, $676,795.00, by the company’s Net Sales $10,796,200.00, we get a before-tax profit margin of 6.268%. This means that Kudler Fine Foods has almost double the pre-tax profit margin than Walmart’s post-tax profit margin of 3.515% (Ycharts, 2012). This means that unless the yearly taxes due for Kudler Fine Foods is about 50%, they will likely have higher profit margins than Walmart. That is pretty good for a fictitious company…

A medical service is one of the fastest rising—and apparently uncontrollable for employers. There have been a few endeavors to control costs amid the previous two decades. Cost Containment endeavors incorporate managed care, health training and well-being programs, case management, reducing benefits, expanded cost sharing and consumer driven health plans. The health care industry is at a point in its conventional business cycle in which the rate of inflation ought to level out for a period. Regardless of the possibility that that is the situation, in any case, it is prone to be an impermanent break in the proceeding with ascent of health care costs unless huge new activities rise. One of those activities is tiered provider networks, a subject that this paper attempts to discuss.

Sports is one of the largest recreational activities in canada, with over 2 million kids aged 5 to 14, took part in sports. However, our government has decreased its funding over sports. From 2014 to 2015, 201.98 million dollars were funded but from 2015 to 2016, only 196.78 milion dollars were funded on sports. Moreover, sports participation of kids is declining. Boys now are less likely to regularly participate in sports than they were back in 1992 and those who do compete are involved in fewer sports. The decline rate will continue unless our government promotes sports heavily, through schools and community sport programs. Our governent should dedicate more money on these programs because sports are mainly promoted by such means, sports have heath benefits and sports make us smarter.

Cost accounting is a type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and record these costs individually, then compare input results to output or actual results to aid company management in measuring financial performance (Cost Accounting, n.d.).

During the month, the company purchased an additional $68,000 of raw materials. During May, $92,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $5,000. The debits to the Work in Process account as a consequence of the raw materials transactions in May total:

The board of directors of the Cortez Beach Yacht Club (CBYC) is developing plans to acquire more equipment for lessons and rentals and to expand club facilities. The board plans to purchase about $50,000 of new equipment each year and wants to begin a fund to purchase a $600,000 piece of property for club expansion.

Process costing is a system which mostly practices by a company whereby the manager of the company wants to know the cash flow from one department to another. Process costing give a clarify information to managers, therefore this activities is very important.