DLM (ASCP) Exam Questions &
Answers (Grade A+)
Project Volumes (forecasting stage) -
correct answer ✅based on expert opinion, stats, historical data,
shifts in patient mix, changes in medical staff composition, changes
in inflation/reimbursement ratws, expansion/cutbacks, population
fluctuations based on economy
Steps to creating a budget -
correct answer ✅1. project volumes
2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget margin
gross revenue -
correct answer ✅Rates x Production Unit (Billable test volume)
Expenses -
correct answer ✅salaries/wages, reference service, instrument
lease, maintenance contracts, education/travel
Financial Statements -
correct answer ✅convey the financial status of an organization
,DLM (ASCP) Exam Questions &
Answers (Grade A+)
4 main types - income statement, balance sheet statement of
changes in equity and statement of cash flows.
income statement -
correct answer ✅summarizes the operations of an organization
with a focus on its revenues, expenses, and profitability. contains
operational results over a period of time.
depreciation -
correct answer ✅noncash charge against earnings on income
statement that reflect the "wear and tear" on a business' fixed
assets (property and equipment). loss of value
salvage value -
correct answer ✅amount received when final disposition occurs at
end of the asset's useful life.
annual depreciation -
correct answer ✅(initial cost - salvage value)/ useful life
Profit -
correct answer ✅net income -expense
,DLM (ASCP) Exam Questions &
Answers (Grade A+)
cashflow -
correct answer ✅net income + depreciation
Total Profit Margin -
correct answer ✅Net income divided by total revenues. It
measures the amount of total profit per dollar of total revenues.
fixed costs -
correct answer ✅cost not related to the volume of services
delivered (ex. facilities cost, lab admin, instrument leases,
maintenance contracts)
variable cost -
correct answer ✅directly related to the volume of services
delivered (ex. supplies, labor costs)
Profit Analysis -
correct answer ✅technique use to analyze the effects of volume
changes on profit. can also be used to analyze effects of volume
changes on costs.
, DLM (ASCP) Exam Questions &
Answers (Grade A+)
Total Costs -
correct answer ✅fixed costs + variable costs
Variable costs = variable cost rate x volume
contribution margin -
correct answer ✅difference between per unit revenue and per
unit variable cost. gives the amount left to cover the fixed costs.
after fixed costs are covered what's left contributes to the profit.
accounting breakeven -
correct answer ✅Volume needed to produce zero profit. Revenues
cover all accounting costs.
Total Revenue (cost x volume) - Total Variable (variable cost rate x
volume) - fixed costs = $0
economic breakeven -
correct answer ✅occurs when all accounting costs plus a profit
target are covered
total revenue - total variable cost- fixed cost = profit
Surcharge/Cost Plus -
correct answer ✅used for reference/send out testing. Determine
Answers (Grade A+)
Project Volumes (forecasting stage) -
correct answer ✅based on expert opinion, stats, historical data,
shifts in patient mix, changes in medical staff composition, changes
in inflation/reimbursement ratws, expansion/cutbacks, population
fluctuations based on economy
Steps to creating a budget -
correct answer ✅1. project volumes
2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget margin
gross revenue -
correct answer ✅Rates x Production Unit (Billable test volume)
Expenses -
correct answer ✅salaries/wages, reference service, instrument
lease, maintenance contracts, education/travel
Financial Statements -
correct answer ✅convey the financial status of an organization
,DLM (ASCP) Exam Questions &
Answers (Grade A+)
4 main types - income statement, balance sheet statement of
changes in equity and statement of cash flows.
income statement -
correct answer ✅summarizes the operations of an organization
with a focus on its revenues, expenses, and profitability. contains
operational results over a period of time.
depreciation -
correct answer ✅noncash charge against earnings on income
statement that reflect the "wear and tear" on a business' fixed
assets (property and equipment). loss of value
salvage value -
correct answer ✅amount received when final disposition occurs at
end of the asset's useful life.
annual depreciation -
correct answer ✅(initial cost - salvage value)/ useful life
Profit -
correct answer ✅net income -expense
,DLM (ASCP) Exam Questions &
Answers (Grade A+)
cashflow -
correct answer ✅net income + depreciation
Total Profit Margin -
correct answer ✅Net income divided by total revenues. It
measures the amount of total profit per dollar of total revenues.
fixed costs -
correct answer ✅cost not related to the volume of services
delivered (ex. facilities cost, lab admin, instrument leases,
maintenance contracts)
variable cost -
correct answer ✅directly related to the volume of services
delivered (ex. supplies, labor costs)
Profit Analysis -
correct answer ✅technique use to analyze the effects of volume
changes on profit. can also be used to analyze effects of volume
changes on costs.
, DLM (ASCP) Exam Questions &
Answers (Grade A+)
Total Costs -
correct answer ✅fixed costs + variable costs
Variable costs = variable cost rate x volume
contribution margin -
correct answer ✅difference between per unit revenue and per
unit variable cost. gives the amount left to cover the fixed costs.
after fixed costs are covered what's left contributes to the profit.
accounting breakeven -
correct answer ✅Volume needed to produce zero profit. Revenues
cover all accounting costs.
Total Revenue (cost x volume) - Total Variable (variable cost rate x
volume) - fixed costs = $0
economic breakeven -
correct answer ✅occurs when all accounting costs plus a profit
target are covered
total revenue - total variable cost- fixed cost = profit
Surcharge/Cost Plus -
correct answer ✅used for reference/send out testing. Determine
