Lorena Received Her Bank Statement on March 8, Showing a Balance

question 6

Multiple Choice

Lorena received her bank statement on March 8, showing a balance of $3,296.14. The balance shown in her checkbook was $2,796.69. Deposits in transit amounted to $348.11 and there was a service charge of $6.00. Outstanding checks were $280.35, $283.66, and $161.93, and the interest earned was $127.62. Find the reconciled balance.

• A) $2,790.69
• B) $3,296.14
• C) $2,570.20
• D) $2,918.31

---

Definitions:

Production

The process of creating goods and services from various inputs like raw materials and labor.

Purchasing

The process of obtaining goods or services, usually for business purposes.

Cost Drivers

Factors that cause a change in the cost of an activity, impacting the economic amount associated with production or delivery of a service.

Variable Costs

Costs that vary in direct proportion to changes in production or sales volumes, such as raw materials and direct labor.