Prepare a salary budget for the fiscal year

Assignment Help Cost Accounting

Reference no: EM13183496

Problem 1

Using the information provided, prepare a salary budget for FYX2 (7/1/X1 to 6/30/X2). Volume in the budget year is planned to be 5,400 patient days, and

staff needs are for six hours of hands-on RN care per patient day. Productive time is 85 percent of total paid time. For purposes of this solution, the assumption is that nurses can be hired only in half FTE increments (e.g., if you calculate a need for 12.8 FTEs, 13 FTEs must be budgeted).

A pay raise will be given to all staff on May 1 of each year at a rate of 6 percent. The July 1, 19X1, rate of pay for new hires is set at $13.00/hour regardless of the date of hire.

The following are the current staff with FTE values and hourly rates of pay as of November 4, 19X0:

Abelein	1.0	$14.30
Brenchley	1.0	13.80
Brownstein	0.5	13.50
Colson	1.0	14.00
Cottingham	0.5	12.75
Cyr	1.0	14.20

Problem 2

Prepare a salary budget for the fiscal year 7/1/X1 to 6/30/X2. Staffing levels are based on the need for six hours of hands-on work per patient day. Volume in the budget year is to be 3,600 patient days. Productive time is 80 percent of total paid time. For purposes of this solution, staff can be hired only in half FTE increments; thus if there is a need for 7.4 FTEs, 7.5 must be budgeted. The following are the current staff with FTE values and hourly rates of pay as of 4/1/X1:

King	1.0	$14.00
Law	1.0	13.80
Rogers	1.0	13.50
Ruby	1.0	14.00
Russell	0.5	12.75

A pay raise will be given to all staff on May 1 of each year at a rate of 6 percent. The starting rate of pay for new hires is $13.00 regardless of hire date.

Problem 3

Using the information provided, prepare a salary budget for FYX3 (7/1/X2 to 6/30/X3). Volume in the budget year will be 3,000 units of service, and staff needs are for five hours of hands-on work per unit of service. Productive time is 85 percent of total paid time. For purposes of this solution, the assumption is that staff can be hired only in half FTE increments. A pay raise will be given to all staff (and to the starting rate of pay) on June 1 and December 1 of each year at a rate of 6 percent.

The following are the current staff with FTE values and hourly rates of pay as of March 8, 19X2:

Critz	1.0		$14.50
Zeri	0.4		13.50
Goal	1.0		15.00
Taft	0.5		13.75
Freeman	0.6		14.60
Starting Rate			13.00
Problem 4 Given the following information, budget year. Patient Days Outpatient Visits Inpatient Tests Outpatient Tests		calculate the test volume for the upcoming Base Year Budget (6 Months) Year 150,000 250,000 100,000 210,000 450,000 400,000

Problem 5

Your pharmacy is able to produce up to 30,000 unit doses each month. The

trend in unit doses over the years has been as shown below. What amount of unit doses will you budget for in 19X4?

19X1 312,000 Unit Doses

19X2 327,600 Unit Doses
19X3 343,890 Unit Doses

Problem 6

You manage a Therapeutic Radiation Department with five machines. These machines have a maximum total capacity of 600 treatments per month, each val-

ued at 50 RVUs. What number of RVUs will you budget in 19X8, given the following RVU trend over time?

19X1 --	190,000	19X5	-- 278,180
19X2 --	209,000	19X6	- - 306,000
19X3 -	-- 229,900	19X7	-- 336,000
19X4 --	252,890

Reference no: EM13183496

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