Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data about its resources and activities for its checking
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activities Clerical Hours Supervision $74,000 Processing accounts 9,000 Phone and supplies Salaries 94,000 290,000 Issuing statements 6,250 Processing transactions 7,500 Computer 29,000 Answering customer inquiries 2,250 Total $487,000 Total 25,000 Computers are used only by the issuing (40 percent) and processing transaction (60 percent) activities. Phone and supplies are 80 percent customer inquiries with the other 20 percent divided equally among the remaining activities, including supervising the checking operation. The supervisor spends 100 percent of her time on supervision. In addition to the 25,000 clerical hours, there are 2,000 hours of supervision used (the hours used by the supervising clerks activity, which is not listed above). Required: 1. Prepare a work distribution matrix for the five primary activities. If an answer is zero, enter "0". Golding Bank Percentage of Time on Each Activity Activity Supervising clerks Processing accounts Issuing statements a Processing transactions Supervisor Clerks 100 % 0% 0 36 25 0 30 Previous Next
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started