The hospital administrators at New Hope, County General, and City East recently received notice of an impending state inspection of their facilities. Under new guidelines established to improve the overall health care system, state inspectors will be assessing the efficiency of each hospital. The staff at New Hope has suggested a mutual assistance program in preparation for the inspections and have proposed using DEA as a means to assess the efficiency of each facility. The data collected thus far is summarized in the following table. All data reflects averages compiled over the past six months.
What are the key formulas for this Excel spreadsheet implementation of the following formulation?
Definitions:
Revaluation of Machinery
The process of updating the book value of machinery to reflect its current market value.
Accumulated Depreciation
The total amount of depreciation expense that has been claimed on an asset since it was put into use, reducing its book value.
Gain on Revaluation
An increase in the value of an asset based on current market prices, resulting in a higher estimated worth than its recorded book value.
Estimated Useful Life
The length of time an asset is expected to be usable for its intended purpose, used to calculate depreciation.
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