Homework Help is Here – Start Your Trial Now!
Business
Accounting
The Westfield branch of Security Home Bank submitted the following cost data for last year: Teller wages Assistant branch manager salary Branch manager salary Total Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch were interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: Teller wages Assistant branch manager salary Branch manager salary $ 144,000 74,000 90,000 $ 308,000 Activity Opening accounts Processing deposits and withdrawals Processing other customer transactions Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 75% 15% 0% Opening Accounts 4% 15% 4% Activity Cost Pool Opening accounts Processing deposits and withdrawals Processing other customer transactions The manager of the Westfield branch of Security Home Bank provided the following data concerning the branch's transactions during the past year: Processing Other Customer Transactions 20% 24% 15% Required: 1. Compute the activity rates for the activity-based costing system. Note: Round your answers to 2 decimal places. Total Activity at the Westfield Branch 255 new accounts opened Activity Rate 54,000 deposits and withdrawals processed 1,150 other customer transactions processed Other Activities 1% 46% 81% per account opened per deposit or withdrawal per other customer transaction Totals 100% 100% 100%

The Westfield branch of Security Home Bank submitted the following cost data for last year: Teller wages Assistant branch manager salary Branch manager salary Total Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch were interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: Teller wages Assistant branch manager salary Branch manager salary $ 144,000 74,000 90,000 $ 308,000 Activity Opening accounts Processing deposits and withdrawals Processing other customer transactions Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 75% 15% 0% Opening Accounts 4% 15% 4% Activity Cost Pool Opening accounts Processing deposits and withdrawals Processing other customer transactions The manager of the Westfield branch of Security Home Bank provided the following data concerning the branch's transactions during the past year: Processing Other Customer Transactions 20% 24% 15% Required: 1. Compute the activity rates for the activity-based costing system. Note: Round your answers to 2 decimal places. Total Activity at the Westfield Branch 255 new accounts opened Activity Rate 54,000 deposits and withdrawals processed 1,150 other customer transactions processed Other Activities 1% 46% 81% per account opened per deposit or withdrawal per other customer transaction Totals 100% 100% 100%

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5TIF: The following situations describe scenarios that could use managerial accounting information: a. The...
See similar textbooks
icon
Related questions
Question
100%
The Westfield branch of Security Home Bank submitted the following cost data for last year: Teller wages Assistant branch manager salary Branch manager salary Total Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch were interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: Teller wages Assistant branch manager salary Branch manager salary $ 144,000 74,000 90,000 $ 308,000 Activity Opening accounts Processing deposits and withdrawals Processing other customer transactions Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 75% 15% 0% Opening Accounts 4% 15% 4% Activity Cost Pool Opening accounts Processing deposits and withdrawals Processing other customer transactions Processing Other Customer Transactions The manager of the Westfield branch of Security Home Bank provided the following data concerning the branch's transactions during the past year: Required: 1. Compute the activity rates for the activity-based costing system. Note: Round your answers to 2 decimal places. Activity Rate 20% 24% 15% Total Activity at the Westfield Branch 255 new accounts opened 54,000 deposits and withdrawals processed 1,150 other customer transactions processed Other Activities per account opened per deposit or withdrawal per other customer transaction 1% 46% 81% Totals 100% 100% 100%
Transcribed Image Text:The Westfield branch of Security Home Bank submitted the following cost data for last year: Teller wages Assistant branch manager salary Branch manager salary Total Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch were interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: Teller wages Assistant branch manager salary Branch manager salary $ 144,000 74,000 90,000 $ 308,000 Activity Opening accounts Processing deposits and withdrawals Processing other customer transactions Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 75% 15% 0% Opening Accounts 4% 15% 4% Activity Cost Pool Opening accounts Processing deposits and withdrawals Processing other customer transactions Processing Other Customer Transactions The manager of the Westfield branch of Security Home Bank provided the following data concerning the branch's transactions during the past year: Required: 1. Compute the activity rates for the activity-based costing system. Note: Round your answers to 2 decimal places. Activity Rate 20% 24% 15% Total Activity at the Westfield Branch 255 new accounts opened 54,000 deposits and withdrawals processed 1,150 other customer transactions processed Other Activities per account opened per deposit or withdrawal per other customer transaction 1% 46% 81% Totals 100% 100% 100%
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Strategic business units
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
PAYROLL ACCT., 2019 ED.(LL)-TEXT
PAYROLL ACCT., 2019 ED.(LL)-TEXT
Accounting
ISBN:
9781337619783
Author:
BIEG
Publisher:
CENGAGE L
SEE MORE TEXTBOOKS