Question
In: Accounting
Golding Bank provided the following data about its resources and activities for its checking account process:...
Golding Bank provided the following data about its resources and activities for its checking account process:
| Resources | Activities | Clerical Hours | |||||
| Supervision | $72,000 | Processing accounts | 10,080 | ||||
| Phone and supplies | 99,000 | Issuing statements | 7,000 | ||||
| Salaries | 265,000 | Processing transactions | 8,400 | ||||
| Computer | 20,000 | Answering customer inquiries | 2,520 | ||||
| Total | $456,000 | Total | 28,000 | ||||
- Computers are used only by the issuing (40 percent) and processing transaction (60 percent) activities.
- Phone and supplies are 70 percent customer inquiries with the other 30 percent divided equally among the remaining activities, including supervising the checking operation.
- The supervisor spends 100 percent of his time on supervision. In addition to the 28,000 clerical hours, there are 4,000 hours of supervision used (the hours used by the supervising clerks activity, which is not listed above).
Required:
Calculate the cost of each activity. If required, round your answers to the nearest dollar.
| Activity | Total |
| Supervising clerks | $ |
| Processing accounts | $ |
| Issuing statements | $ |
| Processing transactions | $ |
| Answering customer inquiries | $ |
3. If the cost of the supervising activity is assigned to the other four activities, what is the final cost of these four primary activities? If required, round your answers to the nearest dollar.
| Processing accounts | $ |
| Issuing statements | $ |
| Processing transactions | $ |
| Answering customer inquiries | $ |
Solutions
ekkarill92 answered 2 days agoRelated Solutions
Golding Bank provided the following data about its resources and activities for its checking account process:
Assigning Cost of Resources to Activities, Unbundling the
General LedgerGolding Bank provided the following data about its resources and
activities for its checking account process:ResourcesActivitiesClerical HoursSupervision$72,000Processing accounts10,360Phone and supplies91,000Issuing statements7,000Salaries280,000Processing transactions7,840Computer30,000Answering customer inquiries2,800 Total$473,000 Total28,000Computers are used only by the issuing (20 percent) and
processing transaction (80 percent) activities.Phone and supplies are 70 percent customer inquiries with the
other 30 percent divided equally among the remaining activities,
including supervising the checking operation.The supervisor spends 100 percent of his time on supervision.
In...
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data...
Assigning Cost of Resources to Activities, Unbundling the
General Ledger
Golding Bank provided the following data about its resources and
activities for its checking account process:
Resources
Activities
Clerical Hours
Supervision
$80,000
Processing accounts
9,360
Phone and supplies
95,000
Issuing statements
4,800
Salaries
265,000
Processing transactions
6,720
Computer
23,000
Answering customer inquiries
3,120
Total
$463,000
Total
24,000
Computers are used only by the issuing (20 percent) and
processing transaction (80 percent) activities.
Phone and supplies are 70 percent customer inquiries...
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data...
Assigning Cost of Resources to Activities, Unbundling the
General Ledger
Golding Bank provided the following data about its resources and
activities for its checking account process:
Resources
Activities
Clerical Hours
Supervision
$70,000
Processing accounts
10,000
Phone and supplies
90,000
Issuing statements
5,000
Salaries
275,000
Processing transactions
7,000
Computer
25,000
Answering customer inquiries
3,000
Total
$460,000
Total
25,000
Computers are used only by the issuing (30 percent) and
processing transaction (70 percent) activities.
Phone and supplies are 60 percent customer inquiries...
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