Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Total number of checking accounts 252,000. Number of money market checking accounts 79,800. Checking account cost pools: returned check cost 4,104,000. Checking account reconciliation costs
Total number of checking accounts 252,000. Number of money market checking accounts 79,800. Checking account cost pools: returned check cost 4,104,000. Checking account reconciliation costs 78,660. New account setup 1,094,000. Copies of cancelled checks 346,560. Website maintenance 256,500. Total checking account costs 5,880,120. Returned checks 228,000. Check reconciliation costs 3,240. New accounts 68,400. Cancelled check copy requests 91,200. Website costs 10. Types of checking accounts 1. Cost pool rates: returned check costs 18.00. Checking accounts reconciliation costs 23.00. New account setup 16.00. Copies of cancelled checks 3.80. Website maintenance 25,650. Calculate the total cost assigned to the money market checking account?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started