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Mondou Medical Institute operates a? 300-bed hospital and offers a number of specialized medical services. Mondou?'s hospital facility and equipment are leased on a? long-term basis. The hospital charges $2,800 per patient day. On the basis of past cost? data, Mondou has estimated its variable costs as $600 per patient day. Fixed costs are $2,300,000 per month. The? hospital's administrator has estimated that the hospital will average 5,000 patient days per month.
Requirements
Question ?(a) How much will the hospital need to charge per patient day to break even at this level of? activity?
Question ?(b) Refer to the original data in the problem. How many patient days must Mondou average each month to earn a target profit of $120,000 per? month?
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