QuikCard processes credit card receipts for local banks. QuikCard processed 1,500,000 receipts in October. All receipts are processed the same day they are received. October costs were labor of $21,000 and overhead of $39,000. What is the cost to process 1,200 receipts? Multiple Choice A) $33.60. B) $48.00. C) $16.80. D) $50.00.
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TB MC Qu. 6-47 (Algo) QuikCard processes credit card receipts for local banks...
QuikCard processes credit card receipts for local banks. QuikCard processed 1,500,000 receipts in October. All receipts are processed the same day they are received. October costs were labor of $21,000 and overhead of $39,000. What is the cost to process 1,200 receipts?
-
A)
$33.60.
-
B)
$48.00.
-
C)
$16.80.
-
D)
$50.00.
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- Alard Manufacturing Company has a billing department staffed by four billing clerks. Each clerk is paid 32,000 per year and is able to process 8,000 bills. Last year, 27,360 bills were processed by the four agents. Calculate the unused capacity in terms of number of bills. a. 27,360 b. 4,640 c. 8,000 d. 32,000QuikCard processes credit card receipts for local banks. QuikCard processed 1,300,000 receipts in October. All receipts are processed the same day they are received. October costs were labor of $14,000 and overhead of $25,000. What is the cost to process 1,800 receipts? Multiple Choice $54.00 O $19.38 $38.77 O $21.67Countryside Bank uses activity-based costing to determine the cost of servicing customers. There are three activity pools: teller transaction processing ($2.55 per teller transaction), check processing (50.10 per canceled check), and ATM transaction processing (50.20 per ATM transaction). Rosa Bush had 5 teller transactions, 10 canceled checks, and 7 ATM transactions during the month. What is the total monthly activity-based cost for Rosa Bush during the month? a $32.90 O b. $15.15 $9.75 4 $24.75
- QuikCard processes credit card receipts for local banks. QuikCard processed 1,400,000 receipts in October. All receipts are processed the same day they are received. October costs were labor of $14,000 and overhead of $28,000. What is the cost to process 1,000 receipts?The loan department of a Bank performs several functions in addition to home loan application processing task. It is estimated that 25% of the total overhead cost of loan department are applicable to processing of home-loan application. The bank has processed 125 loan applications in the month of March'21. Determine the cost of home-loan application department. The following information pertains to processing of loan application Particulars Rs. Loan Processor's monthly salary [4 employees @ Rs 20,000 each] 80,000 Loan Department's overhead cost [monthly]: Chief Loan Officer's Salary 30,000 Telephone expenses 1,000 Depreciation on building 5,000 Advertising Cost 3,000 Miscellaneous Cost 1,000 Total Overhead Cost 40,000V MI * 00 Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $567,000 of indirect costs. The bankwide rate could be based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for Consumer Loans and a dual rate based on direct labor hours and the number of loans processed for Commercial Loans. The following information was gathered for the upcoming period: Department DLH Loans Processed Direct Costs Consumer 000' 000 18,000 008 Commercial 000 What is the overhead rate if Banc Corp. Trust allocates the indirect costs using direct labor hours? Multiple Choice Mc Graw < Prev 15 of 25 10:21 PM (罗 4/15/2021 ype here to search 近 PrtSc Delete 因 91 F10 F11 F12 F5 -D +D 风 & Ba 23 6. 4. P. A G K. B. Alt Ctrl Alt
- Better Finance (previously Bill Float), based in San Francisco, California, provides leasing and credit solutions to consumers and smal businesses. If Better Finance wants to distribute $41,000 worth of overhead by sales. $ 4,960, 900 4, 960, 800 New customer sales (NCS) Current customer new sales (CCNS) Current customer loan extension sales (CCLES) 2,480, 000 $12, 400, 000 Calculate the overhead expense for each department. Overhead expense New customer sales Current customer new sales Current customer loan extension salesBetter Finance (previously Bill Float), based in San Francisco, California, provides leasing and credit solutions to consumers and small businesses. If Better Finance wants to distribute $38,000 worth of overhead by sales. New customer sales (NCS) Current customer new sales (CCNS) Current customer loan extension sales $ 4,235,000 4,235,000 3,630,000 (CCLES) $12,100,000 Calculate the overhead expense for each department. Overhead expense New customer sales Current customer new sales Current customer loan extension salesR&R Savings Bank finds that its basic transaction account, which requires a $1000 minimum balance, costs this savings bank an average of $3.25 per month in servicing costs (including labor and computer time) and $1.25 per month in overhead expenses. The savings bank also tries to build in a $0.50 per month profit margin on these accounts. Further analysis of customer accounts reveals that for each $100 above the $500 minimum in average balance maintained in its transaction accounts, R&R Savings saves about 5 percent in operating expenses with each account. (Note: If the bank saves about 5 percent in operating expenses for each $100 held in balances above the $500 minimum, then a customer maintaining an average monthly balance of $1,000 should save the bank 25 percent in operating costs) For a customer who consistently maintains an average balance of $1,200 per month, how much should the bank charge in order to protect its profit margin? 05.00 4.68 O 0.32 325
- Customers as a Cost Object Morrisom National Bank has requested an analysis of checking account profitability by customer type. Customers are categorized according to the size of their account: low balances, medium balances, and high balances. The activities associated with the three different customer categories and their associated annual costs are as follows: Additional data concerning the usage of the activities by the various customers are also provided: Required: (Note: Round answers to two decimal places.) 1. Calculate a cost per account per year by dividing the total cost of processing and maintaining checking accounts by the total number of accounts. What is the average fee per month that the bank should charge to cover the costs incurred because of checking accounts? 2. Calculate a cost per account by customer category by using activity rates. 3. Currently, the bank offers free checking to all of its customers. The interest revenues average 90 per account; however, the interest revenues earned per account by category are 80, 100, and 165 for the low-, medium-, and high-balance accounts, respectively. Calculate the average profit per account (average revenue minus average cost from Requirement 1). Then calculate the profit per account by using the revenue per customer type and the unit cost per customer type calculated in Requirement 2. 4. CONCEPTUAL CONNECTION After the analysis in Requirement 3, a vice president recommended eliminating the free checking feature for low-balance customers. The bank president expressed reluctance to do so, arguing that the low-balance customers more than made up for the loss through cross-sales. He presented a survey that showed that 50% of the customers would switch banks if a checking fee were imposed. Explain how you could verify the presidents argument by using ABC.Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?Golding Bank provided the following data about its resources and activities for its checking account process: Required: 1. Calculate the capacity cost rate for the checking account process. 2. Calculate the activity rates for the four activities. If the total number of statements issued was 20,000, calculate the cost of the issuing statements activity. 3. What if process improvements decreased the number of customer inquiries, leading to a 10 percent reduction in check processing hours and a 10,000 reduction in total resource costs? Update all the activity rates for these changes in operating conditions.