Give the conclusion in the given cost of quality
Q: Explain the difference between observable and hidden quality costs.
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Classify the following activities as per their respective categories under quality cost or as per…
A: The value chain means the process or activities by which a company adds value to an article,…
Q: Explain the implementation issues of the cost estimation methods
A: Cost estimation is the process of determining the probable cost of a product before starting the…
Q: Define initial direct costs.
A: Initial direct cost: A cost that is incurred during the process of initiating the agreement of lease…
Q: How do you make a decision in case of special order? Explain. Use examples if required.
A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…
Q: Explain the meaning of the cost of quality and the classification of the cost of quality
A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…
Q: Classify the following cost drivers as structural, executional, or operational.
A: Classification of cost derives: Classification 0f the given cost drivers as structural, executional,…
Q: Define the term contribution margin.
A: Contribution margin is defined as the term which determines the profitability of the individual…
Q: Define the term cost variance.
A: Cost variance is the difference between actual costs and budgeted or estimated costs. Many of the…
Q: Explain why knowledge of cost behavior is useful in product performance evaluation.
A: Definition: Product performance: Product performance indicates how well the product is flourishing…
Q: n be obtained from this rating?
A: Given: To analyse the cost classification with the benefits as follows,
Q: how to compute quantity/efficiency variance
A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…
Q: The measure of how well a product meets its requirements or specifications is called: * O Quality of…
A: While providing goods and services to customers, every seller wants that the quality of the products…
Q: Which costing techniques are related to a predetermined cost as a performance targe and actual…
A: Solution: "Standard costing" are related to a predetermined cost as a performance target and actual…
Q: Which type of cost center has a planning focus, and which type has an evaluation focus?
A: Cost Center: It is a department within an organization to which costs can be assigned.
Q: Define cost-allocation base?
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Prepare a cost of quality report. Round
A: Quality is not always worth it, especially if it comes at very high cost or with excess buying…
Q: Why there is a need to identify the standard co
A: Standard Cost A standard cost is an estimated expense that normally occurs during the production of…
Q: Define and describe contribution margin per unit.
A: Contribution margin: Contribution margin refers to the process or theory that is used to judge the…
Q: Find material price variance
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Which of the following would be classified as an external failure cost on a quality cost report?
A: External failure cost: External failure costs refer to the expenses undertaken by the company…
Q: Describe the concept of the INITIAL DIRECT COSTS?
A: Definition: Initial direct costs: Initial direct costs refer to the costs that a lessor incurs…
Q: Explain the difference between a cost standard and an efficiency standard. Give an example of each.
A: Cost standard: This refers to the cost expected to be incurred for a given level of output.…
Q: Discuss ROPs and to tal costs.
A: Answer: ROP is defined as reorder point. This is the inventory level that is to be maintained at the…
Q: What is an outlier? List some possible causes of outliers. How should outliers be handled in cost…
A: Outlier: An outlier is a data point that falls far away from the other points in the scatter diagram…
Q: In order to evaluate cost information managers must be able to distinguish between relevant costs…
A: Relevant cost refers to the cost which is usually incurred by lower management in an organization…
Q: What is importants of Price and quality?
A: Price plays an important role for buyers and sellers both because the seller wants to charge a high…
Q: Discuss the techniques that can be applied to obtain relevant and accurate cost estimates.
A: The question is based on the concept of cost estimation, which is one the most important parameter…
Q: A company wants to determine it cost of quality.
A: Answer: Cost of quality is the cost incurred by the company to maintain the quality of the cost of…
Q: would be the Total External Failure Cost appearing on the quality cost report.
A: Solution:- Heracross Inc., quality cost based on given information :
Q: List and describe the four components of the cost of qualityand provide examples of each.
A:
Q: Identify and discuss the four kinds of quality costs.
A: Remediating item gives identified with quality. Quality expenses don't include basically overhauling…
Q: Define research and development and what are its representative cost driver?
A: Cost drivers: It refers to the object or things which affect the costs of a business. For example,…
Q: A determination of cost savings is most likely to be an objective of a
A: The answer is as fallows
Q: List and define the four types of quality costs.
A: Definition: Product costs: Product costs are the costs which are incurred in the production of the…
Q: Search about how technique is efficient Engineered estimate of cost to estimate cost.
A: technique is efficient Engineered estimate of cost to estimate cost.
Q: Explain contribution margin.
A: Contribution Margin is the amount of revenue available after variable costs to cover fixed expenses…
Q: Explain the benefits of standard costs.
A: Standard costs means budgeted or predetermined cost for a unit of a business. For example, in…
Q: Explain the implementation problems in cost estimation.
A: Cost estimation: It is the development of a defined relationship between cost object and cost…
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- repeat the step from q2: drop any product that is uprofittable with the reviewed cost assignmentValue chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Business Function Cost Item Answera. Research and development 1. Purchase of raw materialsb. Design 2. Advertisingc. Production 3. Salary of research scientistsd. Marketing 4. Shipping expensese. Distribution 5. Reengineering of product assembly processf. Customer service 6. Replacement parts for warranty repairs7. Manufacturing supplies8. Sales commissions9. Purchase of CAD (computer-aideddesign) software10. Salary of website designerCost of Quality and Value-Added/Non-Value-Added Reports for a Service Company Seven Seas Inc. provides cable TV and Internet service to the local community. The activities and activity costs of Seven Seas are identified. Question Content Area a. Identify the cost of quality classification for each activity and whether the activity is value-added or non-value-added. Quality Control Activities Activity Cost Quality CostClassification VA/NVA Classification Billing error correction $60,000 fill in the blank 1 of 18 fill in the blank 2 of 18 Cable signal testing 140,000 fill in the blank 3 of 18 fill in the blank 4 of 18 Reinstalling service (installed incorrectly the first time) 40,000 fill in the blank 5 of 18 fill in the blank 6 of 18 Repairing satellite equipment 50,000 fill in the blank 7 of 18 fill in the blank 8 of 18 Repairing underground cable connections to the customer 25,000 fill in the blank 9 of 18 fill in the blank 10 of 18…
- Dake Coporaton elevant ange of actvity s 2800 unts 060 unes henolloesDirect aterialsDirect laborVariable anfacturing verheadFixed manufacturing overbeadFived selling eNpeeseFixed adainistrative espeseSales commissioesVariable aninistrative eeseegeMule ChoceCest peatFor financial repotg parpses the otal amaut of arotuct coss ue t make &neePls answer this question with solutions. In 20x1, LUMINOUS SHINING Co. recalled a product due to a possible defect caused by malfunctioning factory equipment. The products recalled will be repaired free of charge. LUMINOUS is uncertain whether all products recalled will have the possible defect. However, the following estimate was made by LUMINOUS’s engineers and managerial accountants and approved by the board of directors. Repair cost Probability 80,000,000 5% 60,000,000 20% 40,000,000 35% 20,000,000 40% 100% How much is the provision to be recognized? a. 38Mc. 48M b. 50Md. 32M2. Calculate the relative distribution percentages for each quality cost category. Round percentages to one decimal place if rounding is required. For example, 5.789% would be entered as "5.8". Prevention fill in the blank f53288f73071ff5_1 % Appraisal fill in the blank f53288f73071ff5_2 % Internal failure fill in the blank f53288f73071ff5_3 % External failure fill in the blank f53288f73071ff5_4 % Comment on the distribution. Quality Cost Report, Taguchi Loss Function Kathy Shorts, president of Oliver Company, was concerned with the trend in sales and profitability. The company had been losing customers at an alarming rate. Furthermore, the company was barely breaking even. Investigation revealed that poor quality was at the root of the problem. At the end of 20x5, Kathy decided to begin a quality improvement program. As a first step, she identified the following costs in the accounting records as quality related: 20x5 Sales (644,000 units @ $100) $64,400,000…
- MACRS stands for a. Modified Annual Cost Recovery System b. Modified Audited Cost Recovery System c. Modified Accounting Cost Recovery System d. Modified Accelerated Cost Recovery SystemBE5.5 - Using Excel to Evaluate a Make-Versus-Buy Decision Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. Grunar Industries produces the component parts needed for its popular non-commercial-use drones. One of the key parts has become more costly to produce than first planned, however, so management is considering outsourcing that part. If the company decides not to manufacture this part, a portion of its fixed manufacturing overhead costs would continue. The costs to produce one such part internally and to purchase on part from the suppler are given here. Complete the schedule to support the decision of whether to make or buy the part. Relevant Costs to Make Relevant Cost to Buy Costs to produce internally…My formular function was wrong in cell C5 in contribution sheet. Please give me the right solution. Instruction: Enter a SUMIFS function into cell C5 on the Contribution worksheet that sums the Sales Revenue on the Sales and Cost Data worksheet based on the year that is entered into cell B1 on the Contribution worksheet. The data to be summed is in Column E on the Sales and Cost Data worksheet. The function should find a match in the Year column on the Sales and Cost Data worksheet to the year entered in cell B. The function should also find a match to the item in cell A5 (Sales Revenue) in Column C on the Sales and Cost Data worksheet. Add cell capacity to include Row 100 on the Sales and Cost Data worksheet.
- Info from image "ACC PT1" can be applied to image "ACC PT2" and (b) below is ssociated with image "ACC PT2" (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply The predetermined overhead rate changed.unanswered The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead.unanswered The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied.unanswered** Please don't use hand writing and don't copy and paste *** I want new and unique answer .. Thank you ACT 301 Q2. RCR has two support departments, X1 and X2, and two operating departments, Z1 and Z2. RCR has decided to use the direct method and allocate variable X1 dept. costs based on the number of transactions and fixed X1 dept. costs based on the number of employees. X2 dept. variable costs will be allocated based on the number of service requests and fixed costs will be allocated based on the number of computers. The following information is provided: Support Departments Operating Departments X1 X2 Z1 Z2 Total Department variable costs 12,500 15,000 95,000 52,500 Total department fixed costs 14,500 27,500 105,000 45,000 Number of transactions 38 45 175 112 Number of employees 14 18 38 30 Number of service requests 30 18 38 25 Number of computers 15 20 25 30 You are…You want to add a new Product and Services entry to your client's QuickBooks Online company. The service is installation of a server that doesn't include the cost of the hardware. Here are some steps for getting the job done. 1. Select the Gear icon, select Products and Services, then select New2. _____________________________________________3. In the Name field, type Server installation4. In the Sales information field, type Server installation5. Sale price/rate is $12506. In the Income Account drop-down, select Service/Fee Income7. Select Save and close Which option correctly completes Step 2? A. Select Product B. Select Inventory C. Select Service D. Select Non-inventory E. Select Bundle
