Expert answer:Calculate the overhead cost per account for the Mo
Answer & Explanation:Baller Financial is a banking services company that offers many different types of checking accounts. The bank has recently adopted an activity-based costing system to assign costs to their various types of checking accounts. The following data relate to the money market checking accounts, one of the popular checking accounts, and the ABC cost pools: Annual number of accounts = 51,000 accounts Checking account cost pools:Cost PoolCostCost DriversReturned check costs$2,900,000Number of returned checksChecking account reconciliation costs56,000Number of account reconciliation requestsNew account setup647,000Number of new accountsCopies of cancelled checks385,000Number of cancelled check copy requestsOnline banking web site maintenance184,000Per product group (type of account)Annual activity information related to cost drivers:Cost PoolAll ProductsMoney Market CheckingReturned check194,,000 returned checksCheck reconciliation costs385,000 checking accountNew accounts54,000 new accountsCancelled check copy requests94,000 cancelled checkWeb site costs4 types of accountsCalculate the overhead cost per account for the Money Market Checking
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