Quality data gathering, analysis, and reporting et cost of spoilage Re-entering data because of keying errors Test and inspection of in-process goods Final product testing and inspection Statistical process control activities Returns arising from quality problems Downtime caused by quality problems $ 66,900 $ 59,500 $ 26,100 $ 15,800 $ 40,000 $ 40,600 $ 39,400 $ 63,800

Quality data gathering, analysis, and reporting et cost of spoilage Re-entering data because of keying errors Test and inspection of in-process goods Final product testing and inspection Statistical process control activities Returns arising from quality problems Downtime caused by quality problems $ 66,900 $ 59,500 $ 26,100 $ 15,800 $ 40,000 $ 40,600 $ 39,400 $ 63,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Learning Material Relevant Cost Part 1 Practice Problem Direction: Identify whether the following costs are relevant or irrelevant: _1. Research and development costs incurred in the prior months 2. Contribution margin of the decrease in regular sales for accepting a special order 3. Alternative usage of plant space (rentals to others for a fee, production of new products, etc.) 4. Cost of inventory acquired several years ago. 5. Joint production costs incurred _6. Depreciation of equipment used in production _7. Salary of a manager of a product line that is being considered to be dropped. 8. Rental costs of additional space for the production of a new product _9. Cost of special device that is necessary if a special order is accepted. 10. Direct materials, direct labor and variable overhead incurred on units produced last period 11. Further processing costs 12. Allocated main office expenses to different departments 13. Prime costs of units ordered by one-time customers 14. Current…
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1. The total failure cost is?
Question 3 The Buffalo Machine Sdn. Bhd. was evaluating its cost structure relating to quality costs. Below items are the cost of quality in the year 2020. With this allocation of quality costs, the company lost 20% of sales due to poor performance. To improve the situation, the company would like to perform the cost of quality analysis. Items Product Reliability Test Process Quality Assurance Audit Rework Cost Production Inspection Supplier Quality System Audit Defect Repair Cost Market Defect Cost Sampling Inspection Quality Assurance Training Product Warranty Cost Cost/RM 10000 8500 12000 12000 5500 18000 80000 8000 16000 40000 a) Identify the items for prevention, appraisal, and failure costs. b) Compute the ratio of prevention, appraisal, and failure costs to total quality costs. c) Based on the analysis of the cost of quality, recommend the company's actions to improve the product quality.
35 Hours lost on machine breakdowns clowing the production of goods causing limited customer supplies is a measure he Oa. Customer Perspective O b. Learning and Growth Perspective Oc. Financial Perspective Od. Internal Business Process Perspective
Question 2 Faulty Towers, Inc., manufactures boom boxes (music systems with radio, cassette, and compact disc players) for several companies. The boom boxes differ significantly in their complexity and their manufacturing batch sizes. The following costs were incurred in 2011: a. Indirect manufacturing labor costs such as supervision that supports direct manufacturing labor, $1,450,000 b. Procurement costs of placing purchase orders, receiving materials, and paying suppliers related to the number of purchase orders placed, $850,000 c. Cost of indirect materials, $275,000 d. Costs incurred to set up machines each time a different product needs to be manufactured, $630,000 e. Designing processes, drawing process charts, making engineering process changes for products, $775,000 f. Machine-related overhead costs such as depreciation, maintenance, production engineering, $1,500,000 (These resources relate to the activity of running the machines.) g. Plant management, plant rent, and plant…
puestion 5.4 Stark and Company's has the following cost data: Systems development Final product testing and inspection Quality data gathering, analysis, and reporting Net cost of scrap Customer returns arising from quality problems Amortization of testing equipment $29,000 $12,000 $9,000 $58,000 $56,000 553,000 $16,000 $38,000 $33,000 Rework labour and overhead Testing and inspection of incoming materials Product recalls Submission Instructions: 1. Determine the total prevention costs? 2. Determine total appraisal costs? 3. Determine the total internal failure costs?