Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Utilization rate
The East Memorial Hospital measures occupancy using the number of patient beds used during a month. Patient data for the months of January. February, and March are as follow:
East Memorial Hospital has 1.000 rooms, which includes 200 private rooms with one bed and 800 semi-private rooms with two beds.
Determine the occupancy (utilization) rate for each month. Round to one decimal place.
Concept Introduction:
Standard Costing System:
Standard Costing system allows estimating the costs, preparing budgets for future periods, and analyzing the performance by comparing the budgets with actual results and find variances.
To Calculate:
The Occupancy Rate for each month
The Occupancy Rate for each month is calculated as follows:
| January | February | March | |
| Number of Patients beds used (A) | 49,000 | 41,400 |
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