The Development of Which of the Following Grew Out of a Need

question 5

Multiple Choice

The development of which of the following grew out of a need to assess, implement, and monitor cost-effective, high-quality client care in a systematic manner?

• A) Benchmarks
• B) Dashboards
• C) Clinical pathways
• D) Lean Six Sigma

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Definitions:

Markup

The amount added to the cost of a product to cover expenses and profit, resulting in the selling price.

Absorption Costing

By adopting this accounting model, all manufacturing costs including direct materials, direct labor, and both variable and fixed overheads, are rolled into the product’s cost.

Required Return

The minimum profit or yield that investors expect to earn on an investment.

Unit Product Cost

The cost to produce a single unit of product, accounting for direct materials, direct labor, and overhead on a per-unit basis.