An Example of a Possible HCPCS Level II Code Is

question 48

Multiple Choice

An example of a possible HCPCS Level II code is:

• A) 12345.
• B) H2027.
• C) 1234F.
• D) 1234T.

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs — direct materials, direct labor, and both variable and fixed overhead — in the cost of a product.

Variable Costing

A costing method that includes only variable production costs in product cost calculations, used for internal decision-making.

Net Income

The excess of all revenues and gains over all expenses and losses for a specific period of time.

Production

The process of creating goods and services from various resources.