Friendly Bank is developing an activity based cost system for its teller department. A task force has identihed five different activities: 1. Process deposits 2. Process withdrawals 3. Answer customer inquiries 4. Sell negotiable instruments 5. Balance drawers By tracing the costs of operating the teller department to these five activities, the task force complied the following Information regarding support costs and activities for one of its suburban branches: Quantity Support Activity Purchase deposits Process withdrawals Estimated Cost $29.630 26,080 $24,860 4,860 4,290 $89.720 Activity Cost Driver Number of deposits processed Number of withdrawals processed Number of customer inquiries Number of negotiable instruments sold Number of drawers balanced Answer inquiries 33,250 22,750 45,000 1,100 1,300 Sell negotiable instruments Balance drawers 1. Compute the activity cost driver rates for each of the support activities. Use Excel! 2. The task force has developed the following list of activities for a typical checking account marketed to retired persons. Estimate the total monthly support costs for this checking account product. Use Excel! 1. Compute the activity cost driver rates for each of the support activities. Use Excel! 2. The task force has developed the following list of activities for a typical checking account marketed to retired persons. Estimate the total monthly support costs for this checking account product. Use Excel! Support Activity Purchase deposits Process withdrawals Average Monthly Volume 2.3 deposits 6.0 withdrawals 2.1 inquiries 0.5 instruments sold Answer customer inquiries Sell negotiable instruments 3. Give at least THREE ways Friendly Bank might use this information