Golding Bank provided the following data about its two checking account products and their associated resources and activities: Traditional Interest-Bearing Resources Activities Time per Unit Activity Driver Account Account Supervision $66,000 Processing accounts 0.20 hr. No. of accounts 2,600 1,700 Phone and supplies 88,000 Issuing statements 0.10 hr. No. of statements 60,000 10,000 Salaries 218,000 Processing transactions 0.05 hr. No. of transactions 160,000 120,000 Computer 24,000 Answering customer inquiries 0.15 hr. No. of Inquiries 1,500 1,500 Total 396,000 At practical capacity, Golding uses 22,000 check processing hours Required: 1. Calculate the capacity cost rate for the checking account process. Round your answer to the nearest cent. 18 per hour Calculate the activity rates for the four activities. Round your answers to the nearest cent Processing accounts 3.6 per account Issuing statements 1.B per statement Processing transactions 0.9 per transaction Answering inquiries 2.7 per inquiry If the total number of statements issued was 28,000, calculate the cost of the issuing statements activity 28,800 x 2. Assuming there are 2,000 interest-bearing checking accounts, calculate the cost per account using the activity rates from Requirement 1. Round your answers to the nearest cent. Unit cost X 3. A time equation is used to assign resource costs to checking accounts. Select a time equation for the interest-bearing checking account product 0.20(number of accounts) x 0.10(number of statements) - 0.05(number of transactions) / 0.15(number or inquiries) X Again, assuming that there are 2,600 interest bearing accounts, show that the resource cent per account is the same as calculated in Requirement 2. Round your answers to the nearest cent. X 4. What af process improvements decreased the number of customer inquiries, Wading to a 10 percent reduction in check processing hours and a $7,920 reduction in total resource costa? Calculate the capacity cost rate forge checking account process Round your answers to the nearest cont. 18 X per hour Update all the activity rates for these changes in operating conditions Processing accounts 3.6 X per CCO Issuing statements 1.3 Xper statement Processing transactions 0.0 X per transaction Answering inquines 2.7 X per inquiry