A Medical Lab has introduced a new sample processing efficiency measurement system. This system awards points for adherence to standards: 5 points for tests completed within one hour, 3 points for proper documentation, and 2 points for maintaining sample integrity. Yesterday's analysis of 150 samples showed 140 met timing standards, 144 were properly documented, and all samples maintained integrity. The lab director needs to assess the overall efficiency percentage. [JOB COSTING 2.8]

A Medical Lab has introduced a new sample processing efficiency measurement system. This system awards points for adherence to standards: 5 points for tests completed within one hour, 3 points for proper documentation, and 2 points for maintaining sample integrity. Yesterday's analysis of 150 samples showed 140 met timing standards, 144 were properly documented, and all samples maintained integrity. The lab director needs to assess the overall efficiency percentage. [JOB COSTING 2.8]

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter13: Lean Manufacturing And Activity Analysis

Section: Chapter Questions

Problem 1TIF: Ethics in Action In August, Lannister Company introduced a new performance measurement system in...

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Ethics in Action In August, Lannister Company introduced a new performance measurement system in manufacturing operations. One of the new performance measures is lead time, which is determined by tagging a random sample of items with a log sheet throughout the month. The log sheets recorded the time that the sample items started production and the time that they ended production, as well as all steps in between. At the end of the month, the controller collected the log sheets and computed the average lead time of the tagged products. This number was reported to central management and was used to evaluate the performance of the plant manager. Because of the poor lead time results reported for August, the plant was under extreme pressure to reduce lead time in September. The following memo was intercepted by the controller. Date: September 3 To: Hourly Employees From: Plant Manager During last month, you may have noticed that some of the products were tagged with a log sheet. This sheet records the time that a product enters production and the time that it leaves production. The difference between these two times is termed the lead time. Our plant is evaluated on improving lead time. From now on, I ask all of you to keep an eye out for the tagged items. When you see a tagged item, it is to receive special attention. Work on that item first, and then immediately move it to the next operation. Under no circumstances should tagged items wait on any other work that you have. Naturally, report accurate information. I insist that you record the correct times on the log sheet as the product goes through your operations. How should the controller respond to this discovery?
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Use the Excel Pareto template to investigate the quality losses in a paper mill shown below. Category Annual Loss ($) Downtime 40,000 Testing costs 21,000 Rejected paper 480,000 Odd lot 86,000 Excess inspection 32,000 Customer complaints 134,000 High material costs 59,000 The data has been sorted for your convenience. Calculate the percent of total complaints for each category of errors. Round your answers to two decimal places. Name Amount Percent of Total Rejected paper $480,000 % Customer complaints $134,000 % Odd lot $86,000 % High material costs $59,000 % Downtime $40,000 % Excess inspection $32,000 % Testing costs $21,000 % The correct Pareto diagram is . A. B. C. D.
Albedo Incorporated manufactures high-end replacement telescope lenses for amateur and professional astronomers who are seeking to upgrade the performance of their telescopes. You have just become employed as a staff accountant at Albedo, and Jordan Coleman, the controller, has asked you to help with maintenance cost estimation for the lens manufacturing process. You review the manufacturing process and decide that the best cost driver for maintenance costs is machine hours. The data below are from the previous fiscal year for maintenance costs and machine hours: Month Maintenance Costs Machine Hours $ 3,210 4,650 5,175 3,350 3,100 1 2 3 4 5 6 7 8 9 10 11 12 2,950 2,900 2,900 4,120 4,350 3,500 3,775 2,750 3,900 4,050 2,690 2,500 2,580 2,300 2,500 3,160 3,325 2,780 3,000 Required: 1. What is the cost equation for maintenance costs using the high-low method? (Round "slope (unit variable cost)" to 2 decimal places. Negative amounts should be indicated by a minus sign.)
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Hello, I need some help. My study question is very similar to question submitted about the sample company Qualsupport and Denver Cover Plant. My figures are different. Please assist. I am trying to follow thru with the examples provided. Here is what I am working with. Denver Cover Plant Annual Budget for Operating Costs Materials $14,000,000 Labor: Direct $13,100,000 Supervision $900,000 Indirect plant $4,000,000 $18,000,000 Overhead: Depreciation – equipment $3,200,000 Depreciation - building $7,000,000 Pension expense $5,000,000 Plant manager and staff $,800,000 Corporate expenses* $4,000,000 $20,000,000 Total budgeted costs $52,000,000 Question. The annual budget costs that are relevant to the decision regarding closing the plant. Question. The annual budgeted costs that are irrelevant to the decision regarding closing the plant…
Robotic Construction Toys Corp. is using a costs-of-quality approach to evaluate design engineering efforts for a new toy robot. The company's senior managers expect the engineering work to reduce appraisal, internal failure, and external failure activities. The predicted reductions in activities over the two-year life of the toy robot follow. Also shown are the cost allocation rates for the activities. (Click on the icon to view the information.) Data table Activity Inspection of incoming materials Inspection of finished goods.... Number of defective units discovered in-house. Number of defective units discovered by customers.. Lost sales to dissatisfied customers Requirements ...... **** Predicted Reduction in Activity Units 3. What major difficulty would management have had in implementing this costs-of-quality approach? What alternative approach could it use to measure quality improvement? 300 $ 300 $ 3,200 $ 900 $ 320 $ - 1. Calculate the predicted quality cost savings from the…
Pace Labs. Inc. provides mad cow disease testing for both state and federal governmental, agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Pace Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. Direct materials (2 test tubes @ $1.46 per tube) $ 2.92 Direct Labor (1 hour @ $24 per hour) 24.00 Variable overhead (1 hour @ $6 per hour) 6.00 Fixed overhead (1 hour @ $10 per hour) 10.00 Total standard cost per test $42.92 The lab does not maintain an inventory of test tubes. Therefore, the tubes purchased each month are used that month. Actual activity for the month of November 2014, when 1,500 tests were conducted, resulted in the following. Direct materials (3,050 test…