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Category > Accounting Posted 09 Jun 2017 My Price 9.00

Calculate the overhead cost per account for the Money Market Checking

Question description

 

 

Baller Financial is a banking services company that offers many different types of checking accounts. The bank has recently adopted an activity-based costing system to assign costs to their various types of checking accounts. The following data relate to the money market checking accounts, one of the popular checking accounts, and the ABC cost pools: 
Annual number of accounts = 51,000 accounts  Checking account cost pools:

Cost Pool Cost Cost Drivers
Returned check costs $2,900,000 Number of returned checks
Checking account reconciliation costs 56,000 Number of account reconciliation requests
New account setup 647,000 Number of new accounts
Copies of cancelled checks 385,000 Number of cancelled check copy requests
Online banking web site maintenance 184,000 Per product group (type of account)

Annual activity information related to cost drivers:

Cost Pool All Products Money Market Checking
Returned check 194,,000 returned checks  
Check reconciliation costs 385,000 checking account  
New accounts 54,000 new accounts  
Cancelled check copy requests 94,000 cancelled check  
Web site costs 4 types of accounts  

Calculate the overhead cost per account for the Money Market Checking

 

Answers

QuickHelper
(10)
Status NEW Posted 09 Jun 2017 09:06 PM My Price 9.00

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