Below is the costs related to quality of conformance for Stone Company (in thousands) for 20xx. Inspection 850 Quality engineering 450 Depreciation of test equipment 135 Rework labor 1,080 Statistical process control 180 Cost of field servicing 1,260 Supplies used in testing 450 Systems development 850 Warranty repairs 4,680 Net cost of scrap 720 Product testing 1,080 Product recalls 2,880 Disposal of defective products 900 $ 15,515 What were the total appraisal costs in 20xx? 1,480 1,930 2,515 1,615 E. None of the above A. $ В. С. $ D.

Below is the costs related to quality of conformance for Stone Company (in thousands) for 20xx. Inspection 850 Quality engineering 450 Depreciation of test equipment 135 Rework labor 1,080 Statistical process control 180 Cost of field servicing 1,260 Supplies used in testing 450 Systems development 850 Warranty repairs 4,680 Net cost of scrap 720 Product testing 1,080 Product recalls 2,880 Disposal of defective products 900 $ 15,515 What were the total appraisal costs in 20xx? 1,480 1,930 2,515 1,615 E. None of the above A. $ В. С. $ D.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Environmental Cost Report Verde Company reported operating costs of $56,000,000 as of December 31, 20x5, with the following environmental costs: Testing for contamination $ 672,000 Inspecting products 1,008,000 Treating toxic waste 2,352,000 Obtaining ISO 14001 certification 840,000 Designing processes 784,000 Cleaning up oil spills 4,200,000 Maintaining pollution equipment 1,008,000 Cleaning up contaminated soil 6,216,000 Required: 1. Prepare an environmental cost report, classifying costs by quality category and expressing each as a percentage of total operating costs. Round percentages to two decimal places, if rounding is required. For example, 5.79% would be entered as "5.79". Verde Company Environmental Cost Report For the Year Ended December 31, 20x5 Environmental Cost Total Environmental Cost Percentage of Operating Costs Prevention costs: $fill in the blank 6b95f0094fe707f_2 fill in the blank 6b95f0094fe707f_4 $fill in…
Hamlin Manufacturing co. has the following transactions:1) Raw Material purchased on cash $1450,000.2) Raw material purchased on account $20,000.3) Raw material requisitions & direct labor hours.4) FOH applied $9 per direct labor hour; direct labor cost $6 per direct labor hour.5) Depreciation of office premises $3,000 and for factory machinery$5,000.6) FOH Incurred $900 per job.7) Job# 1A, 2B, &4D were completed.8) Job #2B, 4D were sold on account $ 19, 000 & $25,000 respectively. Required: Prepare Journal Entries and T- Account of Work in Process (WIP) and Factory Overhead (FOH)
Charles Berkle is the manager of Nogain Manufacturing and is interested in doing a cost of quality analysis. The following cost and revenue data are available for the most recent year ended December 31: Sales revenue Cost of goods sold Warranty expense Inspection costs Scrap and rework Product returns due to defects Depreciation expense Machine maintenance expense Wage expense Machine breakdown costs Estimated lost sales due to poor quality $ 250,000 140,000 22,000 14,000 7,800 6,000 10,000 3,400 35,000 4,000 5,000 Required: a. Classify each of these costs into the four quality cost categories and prepare a cost of quality report for Nogain. b. What percentage of sales revenue is being spent on prevention and appraisal activities? c. What percentage of sales revenue is being spent on internal and external failure costs?
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Hardev
With the following transactions, determine the Cost of Good Sold for a Manufacturing plant. 1. A $7000 loan was obtained and deposited in cash. 2. Another loan was obtained for the purchase of new equipment for the amount of 5539 with 5 years of life. 3. The equipment is depreciated for the first year. 4. Direct Labor is paid for the amount of 322. 5. Packaging employees are paid for 997. 6. 200 materials were invoiced at 2 each for the inventory. 7. 150 materials were used in production. 8. The 150 units were sold at $4.00 each and they are invoiced. 9. Sales and distribution expenses for $1000 were paid.
Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Inventories Beginning Ending Materials $50,000 $25,000 Work in process $100,000 $65,000 Finished goods $ 40,000 $43,000 Other information: Depreciation: Plant Building & Equipment $15,000 Repairs & maint- plant $5,000 Materials purchases $155,000 Indirect Labour $30,000 Insurance on plant $20,000 Direct Labour $120,000 Sales salaries expense $48,000 Admin Expense $52,000…