The Savings Bank of Sarasota Has Three Revenue-Generating Departments: Checking

question 6

Multiple Choice

The Savings Bank of Sarasota has three revenue-generating departments: checking accounts, savings accounts, and loans. The bank also has three service areas: administration, personnel, and accounting. The direct costs per month and the interdepartmental service structure are shown below: $$\begin{array}{l}\text { Percentage of Service Used by }\\\begin{array} { | l | c | c | c | c | c | c | c } \hline \text { Dept. } & \text { Costs } & \text { Admin. } & \text { Pers. } & \text { Acctg. } & \text { Check. } & \text { Sav. } & \text { Loc } \\\hline \text { Administration } & \$ 40,000 & - & 10 & 10 & 40 & 20 & 21 \\\hline \text { Personnel } & 23,000 & 10 & - & 10 & 20 & 40 & 21 \\\hline \text { Accounting } & 30,000 & 10 & 10 & - & 20 & 20 & 41 \\\hline \text { Checking } & 41,000 & & & & & & \\\hline \text { Savings } & 25,000 & & & & & & \\\hline \text { Loans } & 16,000 & & & & & & \\\hline\end{array}\end{array}$$ The Savings Bank of Sarasota uses the sequential (step) method and the service departments are allocated in the following order: administration, personnel, and accounting. How much cost would be allocated to the loan area from the personnel department using the sequential/step method? (Round to two decimal places.)

• A)$4,600.00
• B)$6,000.00
• C)$5,111.11
• D)$7,666.67

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Definitions:

Symbolic Meaning

The implied or attributed significance of an object, action, or concept beyond its literal significance.

Filtering

The process of reducing information that passes up or down the organizational hierarchy to manage the flow and prevent information overload.

Information Overload

Occurs when an individual or organization receives too much information in a short amount of time, leading to difficulty in processing, understanding, and making decisions.

Media Richness

The degree to which a communication medium is capable of effectively conveying information, taking into account aspects like immediacy of feedback, personalization, and the use of multiple cues.