Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments' output for the year is as follows: Provider of Service Computing User of Service HR HR 15% Computing Deposit 10% 60% 50% Loan 30% 35% The budgeted costs in the two service departments for the year are as follows: HR $153,000 229,500 Computing

Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments' output for the year is as follows: Provider of Service Computing User of Service HR HR 15% Computing Deposit 10% 60% 50% Loan 30% 35% The budgeted costs in the two service departments for the year are as follows: HR $153,000 229,500 Computing

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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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…
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Account inquiry (hours) Account billing (lines) Account verification (accounts) Correspondence (letters) The above activities are carried out at two of its regional offices. Activities $78,000 2,000 hours $41,000 20,000 lines $16,000 22,000 accounts $12,000 1,400 letters Account inquiry (hours) Account billing (lines) Account verification (accounts) Correspondence (letters) Northeast Office 180 hours 16,000 lines 1,400 accounts 70 letters Midwest Office What is the cost per letter for the correspondence activity? (Round your answer to the nearest cent.) 300 hours 7,000 lines 600 accounts 130 letters OA. $6.00 B. $29.29 O C. $8.57 OD. $0.73 1
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