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 $78,000 Processing accounts 7,560 Phone and supplies 92,000 Issuing statements 4,620 Salaries 265,000 Processing transactions 5,670 Computer 22,000 Answering customer inquiries 3,150 Total $457,000 Total 21,000 Computers are used only by the issuing (20 percent) and processing transaction (80 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 21,000 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 ol 36 0 22 Issuing statements Processing transactions Answering customer inquiries 0 27 0 15 Feedback Check My Work 1. A work distribution matrix simply identifies the Amount of labor consumed by each activity. The supervising ratio is given. The remaining four ratios are calculated using the clerical hrs. + total processing hours 2. Calculate the cost of each activity. If required, round your answers to the nearest dollar. Activity Total ox Supervising clerks Processing accounts Issuing statements $ Processing transactions Answering customer inquiries 3. If the cost of the supervising activity is assigned to the other four activities, what is the final cost of these four primary activities? If required, round your answers to the nearest dollar. 3. If the cost of the supervising activity is assigned to the other four activities, what is the final cost of these four primary activities? If required, round your answers to the nearest dollar. Processing accounts Issuing statements Processing transactions Answering customer inquiries Feedback Check My Work 2. The five primary activities cost will be calculated using Ratios from Requirement 1, and the data for the resources. Remember the information for each allocation of resources. 3. Final cost will be calculated using Ratios from Requirement 1 and Totals from Requirement 2. Review the differences between primary and secondary activities