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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
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 $75,000 Processing accounts 10,800 Phone and supplies 95,000 Issuing statements 6,300 Salaries 295,000 Processing transactions 9,000 Computer 29,000 Answering customer inquiries 3,900 Total $494,000 Total 30,000 Computers are used only by the issuing (40 percent) and processing transaction (60 percent) activities. Phone and supplies are 70 percent customer inquiries with the other 30 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 30,000 clerical hours, there are 4,000 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 "O". Golding Bank Percentage of Time on Each Activity Activity Supervisor Clerks Supervising clerks 100 % 0 Processing accounts 0 36 % 0 21 Issuing statements Processing transactions Answering customer inquiries 0 30 0 13
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