Question

How do you think standard costs could be used in a service industry like a hospital,...

How do you think standard costs could be used in a service industry like a hospital, law office, insurance company, etc

As a manager of one of these companies what changes do you think you could make as a result of reviewing variances?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Identify some switching costs in healthcare. What could a healthcare organization do to minimize the...
1. Identify some switching costs in healthcare. What could a healthcare organization do to minimize the impact of switching costs? 2 What are the major substitutes for hospital care? How do these substitutes vary by hospital service? 3 Are insurance companies buyers or suppliers for hospitals? What about physicians? Why is this designation more difficult to make in healthcare? 4.How does product differentiation affect the level of rivalry in a market? 5.How can driving forces be used to envision the...
Think of a business in the Service Industry: hotels, restaurants, personal services like hair dressers, accountants,...
Think of a business in the Service Industry: hotels, restaurants, personal services like hair dressers, accountants, lawyers, landscapers, contractors, etc. Describe the Service Business you are thinking of. Could they use variance analysis? In what way could they use the techniques of Variance analysis? What management advantage would they get from any analysis? if you feel they could not benefit from variance analysis - explain why you feel that way.
Think of a business in the Service Industry: hotels, restaurants, personal services like hair dressers, accounants,...
Think of a business in the Service Industry: hotels, restaurants, personal services like hair dressers, accounants, lawyers, landscapers, contrsctors, etc.. - Describe the Service Business you are thinking of. - Could they use variance analysis? -In what wy couldthey use the techniques of Variance Analysis? -What management advantage would they get from any analysis? -If you feel they could not benefit from variance analysis - explain why you feel that way.
Think of a dream job you would like to do where you could work from home...
Think of a dream job you would like to do where you could work from home either full time or several days a week. Answer the questions below in a well-constructed paragraph or two.     What is the job?     What technology would you need to have in place to support your work? Be specific. What type of computer set up would you need? Would your current network connection be sufficient and reliable? If not, how would you go about...
How do you think the recent US Tax Reform Law passed in 2017 will impact the...
How do you think the recent US Tax Reform Law passed in 2017 will impact the Multinational Corporations? Evaluate with examples of reputed multinational companies like APPlE
How do you think we can transform the healthcare industry to make it balance cost, qualityand...
How do you think we can transform the healthcare industry to make it balance cost, qualityand access? Why is the healthcare Industry resistant change?
How do you think the ratios are affected via inventory methods, meaning if one company used...
How do you think the ratios are affected via inventory methods, meaning if one company used LIFO and the other used FIFO?
We, as consumers, have become quite spoiled by the food service industry catering to our desire...
We, as consumers, have become quite spoiled by the food service industry catering to our desire to get our meals exactly the way we want them. Many counter service or "fast casual" restaurant chains like Subway, Chipotle, Five Guys, Yogurtland, Shake Shack, and Zoe's Kitchen are making our meals to order (or allowing us to do so in the case of some of the yogurt restaurants) while we wait. In this type of business model, food is generally less processed...
Assume that you would like to invest in a company.Required:a)What is your cost object(5pts)? (Do not...
Assume that you would like to invest in a company.Required:a)What is your cost object(5pts)? (Do not define cost object; please write down the item or service that you want to produce and sell)b)What is the Direct Materialof your product or service(5pts)?c)What are the overhead costs of your product or service(5pts)?d)Assume that you would liketo assign overhead costs to your product or service. Which method you would prefer to use for assigning overhead costto your product or service(In other words,how do...
Explain how a drone that is flown high above a city could be used calculate the...
Explain how a drone that is flown high above a city could be used calculate the height of a building or other landmark, using a method like the one you used to find the height of the Bell Tower. Give detailed step by step instructions that a classmate could follow. Include a figure. I listed the steps below: Steps to calculating the height of a building using a drone: 1. Use the drone’s ability to measure X and Y coordinates...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT