Foress Financial is a banking services company that offers many different types of checking accounts. It has recently adopted an activity-based costing system to assign costs to various types of checking accounts. The following data relate to one type of checking account, the money market checking account, and the ABC cost pools: Total Number of Checking Accounts Number of Money Market Checking Accounts 234,600 74,200 Checking account cost pools: Cost Pool Cost Returned check costs Checking account reconciliation costs New account setup Copies of cancelled checks Website maintenance (for online banking) Total checking account costs $4,028,000 76,320 1,081,200 323,936 238,500 $5,747,956 Cost Driver Number of returned checks Number of account reconciliation requests Number of new accounts Number of cancelled check copy requests Per product group (type of checking account) Annual activity information related to cost drivers: Cost Pool Returned checks Check reconciliation costs New accounts Cancelled check copy requests Website costs All Products 212,000 returned checks 3,180 checking account reconciliations 63,600 new accounts 84,800 cancelled check copy requests 10 types of checking accounts Money Market Checking 19,080 460 21,200 53,000 1 Calculate the cost rate per cost driver activity for each of the five cost pools. (Round rate for copies of cancelled checks to 2 decimal places, e.g. 15.25 and other answers to O decimal places, e.g. 125.) Cost Pool Cost pool rate Returned check costs Checking account reconciliation costs $ New account setup Copies of cancelled checks Web site maintenance (for online banking) (b). Calculate the total cost assigned to the money market checking account. (Round total cost assigned answer to O decimal places, e.g. 1250 and overhead cost per account answer to 2 decimal places, e.g. 15.25.) Total cost assigned to the money market checking account $ Suppose that Foress Financial allocates overhead using the number of checking accounts as the allocation base and one cost pool. Determine the cost rate per checking account and the per account cost assigned to the money market checking account. (Round answer to 2 decimal places, e.g. 15.25.) Allocation Base Overhead Cost Per Account Number of Money Market Accounts Total Number of Checking Accounts