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Biltmore 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 = 60,000 accounts Checking account cost pools: Cost Pool Cost Cost Drivers Returned check costs $3,000,000 Number of returned checks Checking account reconciliation costs 60,000. Number of account reconciliation requests New account setup 650,000 Number of new accounts Copies of cancelled checks 400,000 Number of cancelled check copy requests Online banking web site maintenance 195,000 Per product group (type of account) Total checking account costs $4,305,000 Annual activity information related to cost drivers: Cost Pool All Products Money Market Checking Returned check 200,000 returned checks 18,000 Check reconciliation costs 3,000 checking account 420 New accounts 60,000 new accounts 15,000 Cancelled check copy requests 100,000 cancelled check 60,000 Web site costs 10 types of accounts 1
Calculate the overhead cost per account for the Money Market Checking.
Duluth Castings Company makes a product, X-tol,from two materials. Ticon and VF. The standard prices and quantities are as follows.
Seether Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 8 percent coupon bonds on the market that sell for $930, make semiannual payments, and mature in 20 years. The company should set a cou..
on january 1 2014 wolf creek country club purchased a new riding mower for 16000. the mower is expected to have a
Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $24 per unit. Variable costs are $10.80 per unit, and fixed costs total $174,000 per year.
respond to the ethics case with the statements on standards for tax services for each of the following situations state
townson company had gross wages of 200000 during the week ended december 10. the amount of wages subject to social
write a 750- to 1050-word paper accomplishing the followingmiddot describe four types of audit opinions green
Sampson Apparel Incorporated incurred actual variable overhead expenses of $62,000 in the current year for the production of 10,000 units.
Finally, Giovanni estimates that he needs to withdraw $55,000 from the business (as dividends) to cover his own personal living expenses this year. Will Giovanni have enough cash to get through the year? What is his budgeted cash balance on Decemb..
Develop the adjusting entry. (1) name the accounts impacted and how using the formal account name/debit or credit/dollar amount and (2) explain how the Accounting Equation is impacted.
The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would..
graham company purchased a new machine for 2800000. the new machine has an estimated useful life of nine years and the
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