Do not give image format Required information[The following information applies to the questions displayed below.]Acme Materials Company manufactures and sells synthetic coatings that can withstand high temperatures. Its primarycustomers are aviation manufacturers and maintenance companies. The following table contains financial informationpertaining to cost of quality (COQ) in 2022 and 2023 (in thousands of dollars):SalesMaterials inspectionIn-process (production) inspectionFinished product inspectionPreventive equipment maintenanceScrap (net)Warranty repairsProduct design engineeringVendor certificationDirect costs of returned goodsTraining of factory workersProduct testing-equipment maintenanceProduct testing laborField repairsRework before shipmentProduct-liability settlementEmergency repair and maintenance3a.3b.3c.3d.3e.3f.e. Percentage change in total internal failure costs, 2022 to 2023;f. Percentage change in total external failure costs, 2022 to 2023.Req 1 and 22022$ 16,5003501653002555075015515325Req 3456526075290410250Complete this question by entering your answers in the tabs below.Required:1. Classify the cost items in the table into cost-of-quality (CDQ) categories.2. Calculate the ratio of each COQ category to revenues in each of the 2 years.3. Calculate the percentage change in each COQ category and total COQ and comment on the results:a. Percentage change in total COQ as a percentage of sales, from 2022 to 2023;b. Total COQ in 2023 expressed as a percentage of 2022 sales dollars;c. Percentage change in total prevention costs, 2022 to 2023;d. Percentage change in total appraisal costs, 2022 to 2023;> Answer is not complete.Percentage change in total COQ as a percentage of sales, from 2022 to 2023Total COQ in 2023 expressed as a percentage of 2022 sales dollarsPercentage change in total prevention costs, 2022 to 2023Percentage change in total appraisal costs, 2022 to 2023Percentage change in total internal failure costs, 2022 to 2023Percentage change in total external failure costs, 2022 to 2023< Req 1 and 22023$ 20,500651307565Req 3 >350500Calculate the percentage change in each COQ category and total COQ and comment on the results: (Round your answers to 2decimal places.)320658514565954520565801,675.00 % decrease%116.39 X %increase66.04 X%decrease41.74 % decrease55.44 %decreaseoooo✓

Cost of quality (COQ)Cost or the expenses incurred to ensure the quality of the product or service…

Acme Materials Company manufactures and sells synthetic coatings that can withstand high temperatures. Its primary customers are aviation manufacturers and maintenance companies. The following table contains financial information pertaining to cost of quality (COQ) in 2022 and 2023 (in thousands of dollars): 2022

Acme Materials Company manufactures and sells synthetic coatings that can withstand high temperatures. Its primary customers are aviation manufacturers and maintenance companies. The following table contains financial information pertaining to cost of quality (COQ) in 2022 and 2023 (in thousands of dollars): 2022

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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Step 1: Introduce about cost of quality (COQ)

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Step 2: 1. Classify the cost elements into the appropriate cost of quality categories.

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Step 3: 2. Calculate the ratio of each COQ category to revenues in each of the 2 years

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Step 4: 3. Calculate the % change in each COQ category and total COQ and comment on the results.

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Step 5: Provide the answer to each of the subpart of part 3 for part a and b.

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