In a hospital budgeting scenario, if 25,000 inpatients require 0.25 inch of filing space and 15,000 ER patients require 0.125 inch, with shelving costing $1.05 per inch, what is the annual storage cost?

Get ready for the Information Retention and Access Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Ace your exam!

Multiple Choice

In a hospital budgeting scenario, if 25,000 inpatients require 0.25 inch of filing space and 15,000 ER patients require 0.125 inch, with shelving costing $1.05 per inch, what is the annual storage cost?

The key idea is that total storage cost equals the total inches of filing space required times the shelving cost per inch, so convert everyone’s needs into inches and multiply by the per-inch price.

Calculate total inches: 25,000 inpatients × 0.25 inch each = 6,250 inches. For ER patients: 15,000 × 0.125 inch = 1,875 inches. Combined storage required = 6,250 + 1,875 = 8,125 inches.

Now multiply by the cost per inch: 8,125 × $1.05 = $8,531.25.

Therefore, the annual storage cost is $8,531.25.

In a hospital budgeting scenario, if 25,000 inpatients require 0.25 inch of filing space and 15,000 ER patients require 0.125 inch, with shelving costing $1.05 per inch, what is the annual storage cost?

Get ready for the Information Retention and Access Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Ace your exam!

In a hospital budgeting scenario, if 25,000 inpatients require 0.25 inch of filing space and 15,000 ER patients require 0.125 inch, with shelving costing $1.05 per inch, what is the annual storage cost?

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