Question
Metropolitan Bank uses activity-based costing to determine the cost of servicing customers. There are three activity pools: teller transaction processing, check processing, and ATM transaction
Metropolitan Bank uses activity-based costing to determine the cost of servicing customers. There are three activity pools: teller transaction processing, check processing, and ATM transaction processing. The activity rates associated with each activity pool are $3.20 per teller transaction, $0.19 per canceled check, and $0.08 per ATM transaction. Brian Campbell had 13 teller transactions, 77 canceled checks, and 18 ATM transactions during the month. Determine the total monthly activity-based cost for Campbell during the month. Round your answer to the nearest cent.
I got the answer as $20.23 and I have tried rounding it to 20.20 and 20.25, but it says the answer is wrong. If you can help me figure out this, that would be great! Thank you in advance! (:
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