Identify and compute the various types of cost for thecompany according to cost behavior…. 1 answer below »

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Identify and compute the various types of cost for thecompany according to cost behavior. Determine themonthly fixed and variable costs for scan and lab servicesthat the company incurs.2. Assume that GEO Medical Laboratory only providesscan services, and determine the breakeven in terms ofunits and sales. If the only services that GEO MedicalLaboratory offers are lab services, determine the numberof patients that the company would need to help in orderto break even, as well as the break-even amount. Assumethat the salary of the administrative assistant is evenlydistributed between the two services and the usage offurniture and fittings, computer, and printer are equallyshared. What does your answer imply?3. Determine the cost structure of GEO MedicalLaboratory. Is the company highly or lowly leveraged?4. Assuming a multiproduct situation, how many patientsand how much total revenue does GEO MedicalLaboratory need to break even in a month?5. How many patients must GEO Medical Laboratoryattend to in a month if it wants to make a profit ofUS$3,000? How many of these patients should bescheduled for lab services and how many for scanservices?6. Determine the amount of revenue that the companyneeds to generate in a month to earn an operatingprofit of US$3,000. How much of this revenue will begenerated from lab and scan services, respectively?7. Based on quantitative calculations, should Wallas acceptthe school’s offer? Why or why not?8. Besides profitability, what other motives might influenceWallas’ decision about the offer from the local school?Discuss how such offers might benefit (or harm) GEOMedical Laboratory.9. Give Wallas at least three specific recommendations toincrease revenue or to reduce the costs for his company.Which of these three recommendations do you think isthe best for Wallas right now and why? Be clear aboutwhy this recommendation is preferred.

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