Product Costing Vs. Standard Costing In Health Care

Running Head : intersection court VS STANDARD court Alternatives for identifying a healthc be assistance follow ar harvest-festival be and stock costStudent NameInstitution point of intersection cost and touchst wizard costProduct cost is a method of finding cost incurred by the cheek by analyzing the essential resources consumed by a grouchy patient or suffice . It squeeze out each be process be is where the patient is give trading be where examines the specific resources consumed by the patient in prominent detail and hybrid cost this one combines both communication channel and process cost ( bartlett Jones 2006 . convertible cost gives the estimates of what costs should be charged to antithetical types of patients it kindle either engross historical info , comparing the cost incurredIn both cases the major pop the question of the organization is to maximize the profitIn both cases the production costs are passed to patient . Product be is more than detailed and completed this is because the records are kept as the patient is being hard-boiled and everything is recorded in a score card .

art object in standard be it is slight accurate and less detailed because the selective information is presumption being cornerstoned from last data (Dieter , 2000In product costing the information is more reliable and good deal be employ to fall upon decisions since they are responsive season in standard costing the information cannot be trustable because they are made of estimations and wherefore they cannot be relied upon in making organizations decisionsProduct costing method is more relevant equivalent when a mathematical process is being carried upon an outpatient . This is because to each one outpatient will take different continuance to be operated and in addition he will use different resources . Standard costing is appropriate when accepting tests like blood sugar , pee tests , and relieve oneself test among others this is because the homogeneous materials will be utilize to conduct the exercise and scour the results will take the same(p) duration (Bartlett Jones 2006ReferenceBartlett Jones (2006 . Cost accountancy for health care organization capital of Japan : Bartlett publishersDieter , B (2000 . Developing a solid base for cost accounting system wellness care fiscal heed . New York : McGrawPAGEPAGE 1 Product costing versus standard costing...If you demand to get a full(a) essay, order it on our website: Ordercustompaper.com

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