Inspecting cleanliness of rooms Processing lost customer reservations Reworking incorrectly prepared room service meals Employee training Total Sales are $2,500,000. Prepare a cost of quality report. Round percent of sales to one decimal place. Quality Cost Classification Prevention Appraisal Internal failure External failure Totals Cost of Quality Report $180,000 60,000 30,000 230,000 $500,000 Quality Cost Percent of Total Percent of Quality Cost Total Sales

Inspecting cleanliness of rooms Processing lost customer reservations Reworking incorrectly prepared room service meals Employee training Total Sales are $2,500,000. Prepare a cost of quality report. Round percent of sales to one decimal place. Quality Cost Classification Prevention Appraisal Internal failure External failure Totals Cost of Quality Report $180,000 60,000 30,000 230,000 $500,000 Quality Cost Percent of Total Percent of Quality Cost Total Sales

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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Pls 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. 32M
How Can I resolve this problem? Walton Company has measured its quality costs for the past two years. After the company gathers its quality cost data, it summarizes those costs using the four categories shown below: Required: 3. For this year, calculate the cost in each of the four categories as a percent of the total cost of quality. 4a. Calculate the change in total cost of quality over the two-year period. Last Year This Year Prevention costs $ 339,200 $ 637,000 Appraisal costs $ 467,300 $ 496,000 Internal failure costs $ 853,200 $ 545,000 External failure costs $ 1,001,000 $ 734,400
Cost of Quality Report A quality control activity analysis indicated the following four activity costs of a hotel: Inspecting cleanliness of rooms Processing lost customer reservations Rework incorrectly prepared room service meal Employee training $108,300 180,500 36,100 36,100 $361,000 Sales are $1,900,000. Prepare a cost of quality report. Round percent of sales to one decimal place. Total Quality Cost Classification Prevention Appraisal Internal failure External failure Total Cost of Quality Report Quality Cost $ Percent of Total Quality Cost % % % % % Percent of Total Sales % % % % %
Use the following information to determine the changes in the following: cost of service failures (including invoice discount, rehandling cost, lost sales), and net income, and Return on Assets.Average price per order $125Gross margin per order $42Annual orders 80,000Of orders not filled correctly Rectified orders 70%With invoice discount $25With additional handling $15Orders refused 20%Warehousing cost $250,000Other operating costs $650,000Cash $1,000,000Accounts receivable $500,000Fixed assets $10,000,000Tax rate 40%Transportation cost $350,000Average inventory $700,000Interest cost $400,000Inventory Carrying Cost 10% per year
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Cost-of-Quality Improvement—Relevant Cost Analysis PIM Industries Inc. manufactureselectronics components. Each unit costs $30 before the final test. The final test rejects, on average,5% of the 50,000 units manufactured per year. The average rejection rate of the industry is 3%. A consultant has determined that poor lighting is the most likely cause of this high rejection rate. It wouldcost $100,000 to install adequate lighting in the assembly department, which would be useful for5 years. With adequate lighting (which will cost an additional $5,000 of operating costs per year), thefirm expects to reduce its rejection rate to no higher than the industry average.Required1. Should the firm install the lighting? That is, what would be the projected five-year impact on operatingprofit? (Show calculations.)2. What other considerations might affect this decision?3. What is the primary role of the management accountant in this decision context?