Account inquiry (hours)Account billing (lines)Account verification (accounts)Correspondence (letters)The above activities are carried out at two of its regional offices.Activities$78,0002,000 hours$41,00020,000 lines$16,00022,000 accounts$12,0001,400 lettersAccount inquiry (hours)Account billing (lines)Account verification (accounts)Correspondence (letters)Northeast Office180 hours16,000 lines1,400 accounts70 lettersMidwest OfficeWhat is the cost per letter for the correspondence activity? (Round your answer to the nearest cent.)300 hours7,000 lines600 accounts130 lettersOA. $6.00B. $29.29O C. $8.57OD. $0.731

Step 1: For correspondence activity which is for letters ,For 1400 letters it costs $12000. Step 2:…

Answered: Account inquiry (hours) Account billing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Simplifying the ABC System: TDABC Golding Bank provided the following data about its resources and activities for its checking account process: Time per Unit Traditional Interest-Bearing Resources Activities Driver of Activity Account Account Supervision $70,000 Processing accounts No. of accounts 0.20 hr. 2,000 1,000 Phone and supplies 90,000 Issuing statements No. of statements 0.10 hr. 60,000 10,000 Salaries 275,000 Processing transactions No. of transactions 0.05 hr 160,000 120,000 Computer 25,000 Answering customer inquiries No. of inquiries 0.15 hr. 1,500 1,500 Total $460,000 At practical capacity, Golding uses 25,000 check processing hours. Required: 1. Calculate the capacity cost rate for the checking account process. Round your answers to the nearest cent. 18.4 V per hour Calculate the activity rates for the four activities. Round your answers to the nearest cent. Processing accounts 3.68 V per account Issuing statements 1.84 V per statement Processing transactions 0.92 V per…
Exercise 7-8 (Algo) Computing and Interpreting Activity Rates [LO7-3] The operations vice president of Security Home Bank is investigating the efficiency of the bank's operations. She is concerned about the costs of handling routine transactions at the bank and would like to compare these costs at the bank's various branches. If the branches with the most efficient operations can be identified, their methods can be studied and replicated elsewhere. While the bank maintains meticulous records of wages and other costs, there has been no attempt to show how those costs are related to the various services provided by the bank. The operations vice president has asked for your help in conducting an activity-based costing study of bank operations. In particular, she would like to know the cost of opening an account, the cost of processing deposits and withdrawals, and the cost of processing other customer transactions. The Westfield branch of Security Home Bank submitted the following cost…
The unadjusted balance of Investment in Branch account of a home office is P364,000. Relevant informationfollows:a. The branch did not record a P24,000 credit memo from the home office.b. The branch did not record a debit memo from the home office amounting to P18,000.c. The home office erroneously recorded twice a P40,000 credit memo from the branch.d. The home office recorded a P60,000 debit memo from the branch as P6,000.e. The branch sent by mistake a P14,000 credit memo to the home office. The home office did notrecord it.REQUIRED: Determine the following:9. Adjusted balance of Investment in Branch account _____________10. Unadjusted balance of the Home Office account
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Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $13,511 debit balance and its bank statement shows $13,357 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,312. b. The June 30 bank statement lists a $40 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2.435 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-13 (Algo) Entries from bank reconciliation LO P3 Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. Note:…
Petty cash fund had an opening balance of RO 300. During the month the receipts were RO 70 staff welfare, RO 75 petrol, 80 office stationery, and 45 travelling and there was RO 20 left in the petty cash box. If the petty cash fund is raised to RO 500 per month then how much is the amount required to be refill? a. RO 470 b. RO 280 c. RO 380 d. RO 480
Home office and HIJ Branch

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