Loan Processing 1.Run credit checks:$2,650.15 2.Review documents:$3,301.19 3.Make document corrections; gather additional information:$1,390.65 4.Prepare tickler file; review and follow up on titles,$111.90 insurance, second meetings: 5.Review all output:$2,038.58 6.Correct rejects and incorrect output:$452.20 7.Reconcile incomplete collateral report:$76.86 8.Handle dealer problem calls; address associate problems;$2,770.00 research and communicate information: 9.Compensate for system downtime:$589.22 10.Conduct training:$1,340.00 Loan Payment 1.Receive, inspect, and process payments:$780.00 2.Respond to inquiries when no coupon is presented with payments:$835.25 Loan Payoff 1.Receive, inspect, and process payoff and release documents:$290.14 2.Research payoff problems:$15.59 Enter names in column A and frequencies in column B. Enter data only in yellow cells; the template will chart up to Not for commercial use.Then use the Excel sort procedure to sort the data in columns A and B only from largest to smallest on column B.NameInternal failureAppraisalExternal failurePreventionAmount Percent of Total46.96%38.95%10.31%3.78%4100003400009000033000Total 873000400,000300,000200,000100,000Pareto ChartAppraisalExternal failurePreventionInternal failureSeries 1 The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriatecost-of-quality categories.Quality CostLoan Processing1. Run credit checks:2. Review documents:3. Make document corrections; gather additional information:4. Prepare tickler file; review and follow up on titles,insurance, second meetings:5. Review all output:6. Correct rejects and incorrect output:7. Reconcile incomplete collateral report:8. Handle dealer problem calls; address associate problems;research and communicate information:9. Compensate for system downtime:10. Conduct training:Loan Payment1. Receive, inspect, and process payments:2. Respond to inquiries when no coupon is presented with payments:Loan Payoff1. Receive, inspect, and process payoff and release documents:2. Research payoff problems:Amount$2,650.15$3,301.19$1,390.65$111.90$2,038.58$452.20$76.86$2,770.00$589.22$1,340.00$780.00$835.25$290.14$15.59Cost Classification-Select--Select--Select--Select--Select-AppraisalExternal failureInternal failurePrevention-Select--Select--Select--Select--Select-

Answered: The following cost-of-quality data were…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Lew Pherson and Vera Collier are friends whoare employed by different CPA firms. One day during lunch they are discussing theimportance of internal control in determining the amount of audit evidence requiredfor an engagement. Pherson expresses the view that internal control must be evaluatedcarefully in all companies, regardless of their size or whether they are publicly held,in a similar manner. His CPA firm requires a standard internal control questionnaireon every audit as well as a flowchart of every transaction area. In addition, he says thefirm requires a careful evaluation of the system and a modification in the evidenceaccumulated based on the controls and deficiencies in the system.Collier responds by saying she believes that internal control cannot be adequate inmany of the small companies she audits; therefore, she simply ignores internal controland acts under the assumption of inadequate controls. She goes on to say, “Why should Ispend a lot of time obtaining an…
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Consider the types of poor driving habits that mightoccur at a traffic light. Make a list of the 10 you consider mostlikely to happen. Add the category of “other” to that list.a) Compose a check sheet [like that in Figure 6.6 (a)] to collectthe frequency of occurrence of these habits. Using your checksheet, visit a busy traffic light intersection at four different times of the day, with two of these times being during high-traffic periods (rush hour, lunch hour). For 15 to 20 minutes each visit, observe the frequency with which the habits youlisted occurred.b) Construct a Pareto chart showing the relative frequency ofoccurrence of each habit.
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At Conner Company, a custom manufacturer of printedcircuit boards, the finished boards are subjected to a finalinspection prior to shipment to its customers. As Conner’squality assurance manager, you are responsible for making a presentation to management on quality problems at the be-ginning of each month. Your assistant has analyzed the rejectmemos for all the circuit boards that were rejected during thepast month. He has given you a summary statement listingthe reference number of the circuit board and the reason forrejection from one of the following categories:A = Poor electrolyte coverageB = Improper laminationC = Low copper platingD = Plating separationE = Improper etchingFor 50 circuit boards that had been rejected last month, thesummary statement showed the following:C B C C D E C C B A D A C C C B C A C D C A C C BA C A C B C C A C A A C C D A C C C E C C A B A Ca. Prepare a tally sheet (or checklist) of the different reasonsfor rejection.b. Develop a Pareto chart to identify…
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Loan Processing
1.	Run credit checks:	$2,650.15
2.	Review documents:	$3,301.19
3.	Make document corrections; gather additional information:	$1,390.65
4.	Prepare tickler file; review and follow up on titles,	$111.90
	insurance, second meetings:
5.	Review all output:	$2,038.58
6.	Correct rejects and incorrect output:	$452.20
7.	Reconcile incomplete collateral report:	$76.86
8.	Handle dealer problem calls; address associate problems;	$2,770.00
	research and communicate information:
9.	Compensate for system downtime:	$589.22
10.	Conduct training:	$1,340.00
	Loan Payment
1.	Receive, inspect, and process payments:	$780.00
2.	Respond to inquiries when no coupon is presented with payments:	$835.25
	Loan Payoff
1.	Receive, inspect, and process payoff and release documents:	$290.14
2.	Research payoff problems:	$15.59