The finance director of St. James hospital estimates that on average 30% of its revenue...
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Accounting
The finance director of St. James hospital estimates that on average 30% of its revenue equals its variable cost. Fixed costs are budgeted at $42 million per year. If their budget predicts a volume of business of 50,000 patient-days next year, what is the average daily revenue per patient (rounded to two digits) for St. James to breakeven?
A.
$115,068.49
B.
$588.00
C.
$2,800.00
D.
$1,200.00
E.
$840.00
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