Gold Drive bank is having a branch which is engaged in processing of 'Gold Loan' and 'Car Loan' applications in addition to other services to…

Gold Drive bank is having a branch which is engaged in processing of 'Gold Loan' and 'Car Loan' applications in addition to other services to customers. The bank has hired three direct professional workers for processing 'Gold Loan' applications and four direct professional workers for processing 'Car Loan' applications. In addition to above, following expenses are incurred by the branch: (1) Branch manager who supervises all the activities of branch, is paid at 1,10,000 per month. (2) Legal charges, printing & stationery and advertising expenses are incurred at 28,000,15,000 and - 20,000 respectively for a month. (3) Other expenses are - 51,000 per quarter. (4) Depreciation on building is 4,20,000 per annum. (5) Overhead costs of the branch allocable to processing of 'Gold Loan' applications and to 'Car Loan' applications is 20% & 15% respectively of total overhead costs of the branch. Number of applications processed: 'Gold Loan' - 400 applications per month; and'Car Loan' - 500 applications per month. You are required to: (i) Compute the total salary of direct professionals for processing of 'Gold Loan' and 'Car Loan' applications respectively, by assuming that cost of processing a 'Car Loan' application is same as 'Gold Loan' application. (ii) Find out the total cost of processing a 'Car Loan' application.