{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T14:05:46-04:00", "answer_date": "2024-05-26 14:05:46", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1743059", "url": "\/study-help\/questions\/the-operations-vice-president-of-security-home-bank-has-been-1743059", "question_creation_date_js": "2024-05-26T14:05:46-04:00", "question_creation_date": "May 26, 2024 02:05 PM", "meta_title": "[Solved] The operations vice president of Security | SolutionInn", "meta_description": "Answer of - The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank's | SolutionInn", "meta_keywords": "operations,vice,president,security,home,bank,interested,investigating,efficiency,s,concerned,costs", "question_title_h1": " 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", "question_title": " The operations vice president of Security Home Bank has been interested", "question_title_for_js_snippet": "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 If the branches with the most efficient operations can be identified, 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 vages Assistant branch manager salary Branch manager salary Total $ 159,000 62,000 92,000 $313,000 Virtually all other costs of the branch rent, depreciation, utilities, and so on are 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 Westfield branch have been interviewed concerning how their time was distributed last year across the activities included in the activity based costing study The results of those interviews appear below Opening Accounta Teller wages 31 Assistant branch manager salary 16 31 Branch manager salary Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 721 Processing Other Customer Transactions 15 27 17 Other Activities Totals 10 100 396 100 80 100 The manager of the Westfield branch of Security Home Bank has provided the following data concerning the transactions of the branch during the past year Activity Opening accounts Processing deposits and withdrawals, Processing other customer transactions Required Total Activity at the Westfield Branch 245 new accounts opened 51,000 deposits and withdrawals processed 900 other customer transactions processed 1 Compute the activity rates for the activity based costing system (Round your answers to 2 decimal places )", "question_description": "\"image\"image", "transcribed_text": "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. If the branches with the most efficient operations can be identified, 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 vages Assistant branch manager salary Branch manager salary Total $ 159,000 62,000 92,000 $313,000 Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are 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 Westfield branch have been interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: Opening Accounta Teller wages 31 Assistant branch manager salary 16% 31 Branch manager salary Distribution of Resource Consumption Across Activities Processing Deposits and Withdrawals 721 Processing Other Customer Transactions 15 27 17 Other Activities Totals 10% 100% 396 100% 80% 100% The manager of the Westfield branch of Security Home Bank has provided the following data concerning the transactions of the branch during the past year: Activity Opening accounts Processing deposits and withdrawals, Processing other customer transactions Required: Total Activity at the Westfield Branch 245 new accounts opened 51,000 deposits and withdrawals processed 900 other customer transactions processed 1. Compute the activity rates for the activity-based costing system. (Round your answers to 2 decimal places.)", "related_book": { "title": "Fundamental Managerial Accounting Concepts", "isbn": "978-0077632427, 77632427, 78025656, 978-0078025655", "edition": "7th edition", "authors": "Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/276.jpg", "uri": "\/textbooks\/fundamental-managerial-accounting-concepts-7th-edition-276", "see_more_uri": "" }, "free_related_book": { "isbn": "B0C4MZ83V3", "uri": "\/textbooks\/-bcmf-select-heavy-duty-outdoor-all-weather-basketball-net-replacement-anti-whip-uv-resistant-b0c4mz83v3-115091", "name": "\u200eBcmf Select Heavy Duty Outdoor All Weather Basketball Net Replacement Anti Whip Uv Resistant", "edition": "" }, "question_posted": "2024-05-26 14:05:46", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/question-1-not-yet-answered-paints-out-of-100-p-630960", "description": "Question 1 Not yet answered Paints out of 1.00 P Flag question Question 2 Not yet answered Paints out of 1.00 P Flag question A project has the following activities, with specified precedents and...", "stars": 3 }, { "url": "\/why-is-it-important-for-the-entity-to-establish-control", "description": "Why is it important for the entity to establish control activities over the classification of payroll transactions?", "stars": 3 }, { "url": "\/study-help\/essentials-accounting\/in-march-king-company-received-3000-in-advance-from-a-1793405", "description": "In March, King Company received $3,000 in advance from a firm to prepare an advertising brochure. 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