Please answer this. I am not sure if my answers are correct
The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank's operations. She has been particularly concerned about the costs of handling routine transactions at the bank and would like to compare these costs at the bank's various branches. lfthe branches with the most efcient operations can be identied, their methods can be studied and then replicated elsewhere. While the bank maintains meticulous records of wages and other costs, there has been no attempt thus far to show how those costs are related to the various services provided by the bank. The operations vice president has asked your help in conducting an activity-based costing study of bank operations. In particular, she would like to know the cost of opening an account, the cost of processing deposits and withdrawals, and the cost of processing other customer transactions. The Westfield branch of Security Home Bank has submitted the following cost data for last year: Teller wages $ 149,000 Assistant branch manager salary 60,000 Branch manager salary 92,000 Total $ 301,000 F______________________________________:::::::::: Virtually all other costs of the branchrent, depreciation, utilities, and so onare organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westeld branch have been interviewed concerning how their time was distributed last year across the activities included in the activitybased costing study. The results ofthose interviews appear below: Distribution of Resource Consumption Across Activities Processing Processing Opening Deposits and Other Customer Other Accounts Withdrawals Transactions Activities Total Teller wages 3% 65% 20% 12% 100% Assistant branch manager salary 8% 17% 25% 50% 100% Branch manager salary 3% 0% 15% 82% 100% r_______________________________________________________________________________________ The manager ofthe Westfield branch of Security Home Bank has provided the following data concerning the transactions of the branch during the past year: Activity Total Activity at the Westfield Branch Opening accounts 230 new accounts opened Processing deposits and withdrawals 52,000 deposits and withdrawals processed Processing other customer transactions 1,200 other customer transactions processed Required: 1. Compute the activity rates for the activity-based costing system. (Round your answers to 2 decimal places.) Opening accounts 52.30 Eper account opened Processing deposits and withdrawals $ 2.06 per deposit or withdrawal Processing other customer transactions $ 48.83 per other customer transaction
