First International Bank (FIB) is examining the profitability of its Premier Account, a combined savings and checking account. (Click the icon to view account information.) FIB recently conducted an activity-based costing study of its services. It assessed the folowing costs for six individual services. The use of these services in 2020 by three customers is as follows: (Click the icon to view the costs for the services and customer information.) Assume Marshall and Bennett always maintain a balance above $1,000, whereas Taylor always has a balance below $1,000. Read the requirements Requirement 1. Compute the 2020 profitability of the Marshall, Taylor, and Bennett Premier Accounts at FIB. (For amounts with a 50 balance, make sure to enter "0" in the appropriate coll. Round your answers to the nearest cent. Use parentheses or a minus sign for operating losses) Revenues Spread revenues on annual basis Monthly fee charges Costs Total revenues Deposit withdrawal with teller Deposit withdrawal with ATM Deposit withdrawal on preamanged basis Bank checks written Foreign currency drafts Inquiries Total costs Operating income (os) Marshall Taylor Bennett Total First International Bank (FIB) is examining the profitability of its Premier Account, a combined savings and checking account. (Click the icon to view account information.) FIB recently conducted an activity-based costing study of its services. It assessed the following costs for six individual services. The use of these services in 2020 by three customers is as follows: (Click the icon to view the costs for the services and customer information.) Assume Marshall and Bennett always maintain a balance above $1,000, whereas Taylor always has a balance below $1,000. Read the requirements Requirement 1. Compute the 2020 profitability of the Marshall, Taylor, and Bennett Premier Accounts at FIB. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Round your answers to the nearest cent. Use parentheses or a minus sign for operating losses.) Revenues Spread revenues on annual basis Monthly fee charges Total revenues Costs Deposit withdrawal with teller Deposit withdrawal with ATM Deposit/withdrawal on prearranged basis Bank checks written Foreign currency drafts Inquiries Total costs Operating income () Marshall Taylor Bennett Total K First International Bank (FIB) is examining the profitability of its Premier Account, a combined savings and ch (Click the icon to view account information.) FIB recently conducted an activity-based costing study of its services. It assessed the following costs for six im (Click the icon to view the costs for the services and customer information.) Assume Marshall and Bennett always maintain a balance above $1,000, whereas Taylor always has a balance Read the requirements. Requirement 1. Compute the 2020 profitability of the Marshall, Taylor, and Bennett Premier Accounts at FIB. (F your answers to the nearest cent. Use parentheses or a minus sign for operating losses.) Revenues Spread revenues on annual basis Monthly fee charges Costs Total revenues Deposit/withdrawal with teller Deposit/withdrawal with ATM Deposit/withdrawal on prearranged basis Bank checks written Foreign currency drafts Inquiries Total costs Operating income (loss) Etext pages Get more help - Marshall Taylor Bennett Total onal Bank (FIB) is examining the profitability of its Premier Account, a combined savings and checking account. icon to view account information.) conducted an activity-based costing study of its services. It assessed the following costs for six individual services. The use of t e icon to view the costs for the services and customer information.) rshall and Bennett always maintain a balance above $1,000, whereas Taylor always has a balance below $1,000. quirer ent 1. vers to t es ead reven nthly fee c Total revenu More info Depositors receive a 2% annual interest rate on their average deposit. FIB earns an interest rate spread of 3% (the difference between the rate at which it lends money and the rate it pays depositors) by lending money for home-loan purposes at 5%. Thus, FIB would gain $60 on the interest spread if a depositor had an average Premier Account balance of $2,000 in 2020 ($2,000 x 3% = $60). The Premier Account allows depositors unlimited use of services such as deposits, withdrawals, checking accounts, and foreign currency drafts. Depositors with Premier Account balances of $1,000 or more receive unlimited free use of services. Depositors with minimum balances of less than $1,000 pay a $25-a-month service fee for their Premier Account. eposit/withd Deposit/withd Deposit/withd Bank checks Foreign currency drafts Inquiries Total costs Operating income (loss) Get more help- Print Done balance, C tional Bank (FIB) is examining the profitability of its Premier Account, a combined savings and checking account. The icon to view account information.) y conducted an activity-based costing study of its services. It assessed the following costs for six individual services. The use of ble Data table Account Usage Activity-Based Cost per "Transaction" Marshall Taylor Bennett Deposit/withdrawal with teller 2.10 40 54 6 Deposit/withdrawal with automatic teller machine (ATM) 0.70 9 18 14 ore on Deposit/withdrawal on prearranged monthly basis Bank checks written 0.40 0 12 58 7.80 10 3 2 To Foreign currency drafts 11.90 4 1 5 ts Inquiries about account balance 1.20 10 17 7 Dep Average Premier Account balance for 2020 $ 1,150 $ 775 $ 25,400 Dep Dep Ban Print Done Fore Inqu Total costs Operating income (loss) - FIB recently conducted an activity-based costing study of its services. It assessed the following costs for six individual se (Click the icon to view the costs for the services and customer information.) Assume Marshall and Bennett always maintain a balance above $1,000, whereas Taylor always has a balance below $1, Read the requirements. Requirement 1. Comp your answers to the nea Revenues Spread revenues of Monthly fee charges Requirements 1. Compute the 2020 profitability of the Marshall, Taylor, and Bennett Premier Accounts at FIB. 2. Why might FIB worry about the profitability of individual customers if the Premier Account product offering is profitable as a whole? 3. What changes would you recommend for FIB's Premier Account? Total revenues Costs Deposit/withdrawal Deposit/withdrawal Deposit/withdrawal Bank checks written Foreign currency drafts Inquiries Total costs Operating income (loss) ext pages Get more help . Print Done