Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher

Exercise 16

Performance Evaluation in Service Industries
Bay Area Bank estimates that its overhead costs for policy administration should be $20 for each new account obtained and $0.30 per year for each $1,000 of deposits. The company set a budget of selling 20,000 new accounts during the coming period. In addition, it estimated that the total deposits for the period would average $43,200,000.
During the period, actual costs related to new accounts amounted to $381,500. The bank sold a total of 19,200 new accounts.
The cost of maintaining existing accounts was $12,000. Had these costs been incurred at the same prices as were in effect when the budget was prepared, the costs would have been $11,800, however, some costs changed. Also, deposits averaged $45,000,000 during the period.
Required
Prepare a schedule to show the differences between master budget and actual costs.