Sathered the information below from the head office MEMAR Cornice There are two loan application officers, each earning $104,400 per year. Sara determined that fringe benefits average 10% of salary and that the office support costs for an employee office space laptop, supplies etc.) in that head office averaged $15,660 per employee. Each loan application officer had 2.900 hours available to collect applicant information with accounting for time off, training, and other tasks Required: 1. How much is the cost per minute available to collect loan applicant information! 2. For each of the three types of loans indicated, calculate the average TOABC cost of collecting applicant information Complete this question by entering your answers in the tabs below. Required: Required 2 Determine the cost per minute available to collect loan applicant information (Round your awers to 4 dedmal places) Cost por munute available Nerd Loanguard LLC is an outstanding micro lending and mortgage firm that will be attending to the enormous needs of small businesses real estate professionals, builders, and individual home buyers. They have access to a full range of microfinance and they offer the right loan-with the best rates, terms and costs--to meet the prospective customer's broad needs. The industry may also venture into a declining stage of its economic life cycle because of the competition they face from commercial banks which is becoming imminent. Therefore, Sara Lu, the financial supervisor of Loanguard LLC. chose to implement time diven ABC as part of a process of better understanding the cost structure of the firm and becoming more cost-effective. To start, she looked more into the cost of taking a customer's loan application. Sara knows already that different types of loans would have varying length of time taken when it comes to collecting applicant Information. For example, the timing of the collection of applicant information for some types of loans like auto loans or unsecured loans would be shorter than a mortgage. Sara needed to investigate further and obtain some understanding over cost differences, so she gathered the information below from the head office: There are two loan application officers, each earning $104,400 per year, Sara determined that fringe benefits average 10% of salary and that the office support costs for an employee (office space. laptop, supplies etc.) in that head office averaged $15,660 per employee. Each loan application officer had 2,900 hours available to collect applicant Information with accounting for time off, training, and other tasks Required: 1. How much is the cost per minute available to collect loan applicant information? 2. For each of the three types of loans indicated, calculate the average TDABC cost of collecting applicant information RULUI UM PROSES Tor an employee office space. laptop, supplies etc.) in that head office averaged $15,660 per employee. Each loan application officer had 2.900 hours available to collect applicant information with accounting for time off, training, and other tasks. Required: 1. How much is the cost per minute available to collect loan applicant information? 2. For each of the three types of loans indicated, calculate the average TDABC cost of collecting applicant information. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the average TDABC cost of collecting applicant information for each of the three types of loans. (Round your answers to 2 decimal places.) Average time to collect TDABC cost per Type of loan applicant's information application Mortgage 80 minutes 40 minutes Unsecured 30 minutes Auto