Simplifying the ABC System: TDABC Golding Bank provided the following data about its two checking account products and their associated resources and activities: Resources Activities Supervision $66,000 Processing accounts Phone and supplies 84,000 Issuing statements 0.20 hr. 0.10 hr. Time per Unit Activity Driver No. of accounts No. of statements Traditional Interest-Bearing Account Account 2,000 1,600 60,000 10,000 Salaries 272,000 Processing transactions 0.05 hr. No. of transactions 160,000 120,000 Computer 18,000 Answering customer inquiries 0.15 hr. No. of inquiries 1,500 1,500 Total 440,000 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. 20 per hour Calculate the activity rates for the four activities. Round your answers to the nearest cent. Processing accounts Issuing statements 4 per account 2 per statement Processing transactions 1 per transaction Answering inquiries 3 per inquiry If the total number of statements issued was 22,000, calculate the cost of the issuing statements activity. 44,000 $ 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) + 0.10(number of statements) + 0.05(number of transactions) + 0.15(number of inquiries)