According to the latest report by IMARC Group, titled “Hospital Beds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global hospital beds market is expected to exhibit a CAGR of 3.9% during 2022-2027.
Hospital beds refer to specialized comforters usually used in clinics, hospitals, and other healthcare settings to provide comfort and support to patients during hospitalization. They are crucial components of the healthcare infrastructures and are widely utilized during the diagnosis of a disease, examinations, treatment, and transportation of the patient. In line with this, hospital beds commonly include pressure relief, bariatric, pediatric, respiratory, and birthing hospital beds.
Global Hospital Beds Market Trends:
The growing demand for advanced healthcare services, owing to the sudden outbreak of the COVID-19 pandemic, is among the key factors stimulating the hospital beds market. Moreover, the rising prevalence of chronic ailments, such as cancer and cardiovascular diseases (CVDs), especially among the expanding geriatric population, is acting as another significant growth-inducing factor. Besides this, the increasing investments by government bodies across numerous countries in the development of healthcare infrastructures by enhancing ambulatory systems and hospitals are positively influencing the global market. Furthermore, extensive promotions for better insurance coverage in medical emergencies are propelling the market growth. Apart from this, the widespread adoption of highly equipped hospital beds that are integrated with the Internet of Things (IoT) and power mattresses is further bolstering the global market.
Additionally, the lack of beds in intensive units (ICUs) and general wards, on account of the inflating hospitalization rates, is also catalyzing the market growth. In line with this, the introduction of powered variants that aid in the convenient transportation of patients and offer improved features is anticipated to fuel the hospital beds market over the forecasted period.
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Global Hospital Beds Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- GF Health Products Inc.
- Getinge AB
- Hill-Rom Holdings Inc.
- Invacare Corporation
- Malvestio S.P.A.
- Stryker Corporation
- Paramount Bed Holdings Co. Ltd.
- Savion Industries
- Span-America Medical Systems Inc. (Savaria Corporation)
- Stiegelmeyer GmbH & Co. KG.
The report has segmented the market on the basis on region, technology, bed type, usage and end user.
Breakup by Technology:
- Electric Beds
- Semi-Electric Beds
- Manual Beds
Breakup by Bed Type:
- Regular Beds
- Pediatrics Bed
- Respiratory Beds
- ICU Beds
- Bariatric Beds
- Birthing Beds
- Pressure Relief Beds
- Others
Breakup by Usage:
- Critical Care
- Acute Care
- Long-Term Care
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgery Centers (ASCs)
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
