The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriate cost-of-quality categories. Quality Cost Amount Cost Classification Loan Processing 1. Run credit checks: $2,737.54 2. Review documents: $3,173.50 3. Make document corrections; gather additional information: $1,126.00 4. Prepare tickler file; review and follow up on titles, $190.60 insurance, second meetings: 5. Review all output: $2,330.62 6. Correct rejects and incorrect output: $486.35 7. Reconcile incomplete collateral report: $70.82 8. Handle dealer problem calls; address associate problems; $2,530.00 research and communicate information: 9. Compensate for system downtime: $526.93 10. Conduct training: $1,010.00 Loan Payment 1. Receive, inspect, and process payments: $790.00 2. Respond to inquiries when no coupon is presented with payments: $840.30 Loan Payoff 1. Receive, inspect, and process payoff and release documents: $221.65 2. Research payoff problems: $15.54 Calculate the amount and the percent of total. Do not round intermediate calculations. Round the monetary values to the nearest cent and percentage values to two decimal places

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriate cost-of-quality categories.

	Quality Cost	Amount	Cost Classification
	Loan Processing
1.	Run credit checks:	$2,737.54
2.	Review documents:	$3,173.50
3.	Make document corrections; gather additional information:	$1,126.00
4.	Prepare tickler file; review and follow up on titles,	$190.60
	insurance, second meetings:
5.	Review all output:	$2,330.62
6.	Correct rejects and incorrect output:	$486.35
7.	Reconcile incomplete collateral report:	$70.82
8.	Handle dealer problem calls; address associate problems;	$2,530.00
	research and communicate information:
9.	Compensate for system downtime:	$526.93
10.	Conduct training:	$1,010.00
	Loan Payment
1.	Receive, inspect, and process payments:	$790.00
2.	Respond to inquiries when no coupon is presented with payments:	$840.30
	Loan Payoff
1.	Receive, inspect, and process payoff and release documents:	$221.65
2.	Research payoff problems:	$15.54

Calculate the amount and the percent of total. Do not round intermediate calculations. Round the monetary values to the nearest cent and percentage values to two decimal places.