Offers many different types of checking accounts

Assignment Help Financial Accounting
Reference no: EM131215863

Beller 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 = 53,000 accounts Checking account cost pools:

Cost Pool -Cost -Cost Drivers

Returned check costs $2,940,000 Number of returned checks

Checking account reconciliation costs 59,000 Number of account reconciliation requests

New account setup 644,000 Number of new accounts

Copies of cancelled checks 381,000 Number of cancelled check copy requests

Online banking web site maintenance 189,000 Per product group (type of account)

Annual activity information related to cost drivers:

Cost Pool -All Products -Money Market Checking

Returned check 196,000 returned checks 18,000

Check reconciliation costs 381,000 checking account 420

New accounts 58,000 new accounts 15,000

Cancelled check copy requests 93,000 cancelled check 60,000

Web site costs 5 types of accounts 1

Calculate the overhead cost per account for the Money Market Checking.

Reference no: EM131215863

Questions Cloud

How to set the block format and the sample frequency : Find out how to set the block format and the sample frequency in the menu (A/D). What exactly do these two quantities indicate?
Reason person would prefer to be independent contractor : Which of the following is a reason a person would prefer to be an independent contractor?
What did art nouveau try to synthesize : How did the subject matter of Symbolist art diverge radically from Realism? What types of behavior and interests does fin-de-siècle describe? What did Art Nouveau try to synthesize?
Journal entries to record the issuance of convertible bonds : The Really Cheap Company (RCC) issued $20 million of five-year convertible bonds at par with 6% annual interest, which would be due December 31, 2017. The 6% bonds are convertible at any time after issuance, which was January 1, 2013, at the rate of ..
Offers many different types of checking accounts : Beller 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. Calculate the overhead c..
How would you insert a section break in a document : How would you insert a section break in a document? You send a report to your boss for feedback, and it's returned to you with the edits noted in the electronic file. This Word feature is called.
Produce a noise signal and make it visible : Switch the cursor on. You will see two vertical lines on the screen. At the same time a further display window opens in which the chronological position of the two lines is given in figures. Now move the cursor lines, measure instantaneous values,..
Write down independent families of characteristics for pde : MAP 6108 Mathematical Modeling Assignment. Write down two independent families of characteristics for the pde. For the initial condition U = e1-x + x2 on the initial curve y = -x, determine the number of solutions for the IVP. Your method of determin..
Impact of microfinance on poverty rates : EC 320: Economics of Less-Developed Regions - Describe a difference-in-difference procedure to estimate the impact of microfinance on poverty rates. What will you measure? When? What will the treatment group(s) and control group(s) be?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd