Using the weighted procedure method setting rates calculate, Operation Management

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Using the weighted procedure method setting rates calculate

Using the weighted procedure method setting rates, calculate the relative value and cost per procedure for the following lab procedures. Assume total lab cost of $1,500,000 and average hourly wage of $16. Procedure Projected Volume Labor Minutes Supply Expense A 4000 15 75cents B 6000 13 50cents C 3000 11 50 cents D 5000 10 75cents E 4000 12 90 cents

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