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Business
Accounting
Inspection Quality engineering Depreciation of test equipment Rework labor Statistical process control Cost of field servicing Supplies used in testing Systems development Warranty repairs Net cost of scrap Product testing Product recalls. Disposal of defective products Costs (in thousands) Last Year This Year $ 840 $ 870 $ 360 $ 600 $ 510 $ 300 $ 1,230 $ 0 $ 1,650 $ 60 $ 1,890 $ 300 $ 660 $ 3,000 $ 900 $ 30 $ 750 $ 1,200 $ 660 $ 1,230 $ 990 $ 1,350 $ 2,400 $ 750 $ 810 $ 930 Sales have been flat over the past few years, at $75,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective. Required: 1. Prepare a quality cost report that contains data for both this year and last year. (Enter amount values in thousands. Round your percentage answers to 2 decimal places (i.e 0.1234 should be entered as 12.34).) Prevention costs: Total prevention costs Appraisal costs Total appraisal costs Internal failure costs: Total internal failure costs External failure costs: Total external failure costs Total quality cost Florex Company Quality Cost Report Last Year This Year Amount (in thousands) Percent of Sales Amount (in thousands) Percent of Sales

Inspection Quality engineering Depreciation of test equipment Rework labor Statistical process control Cost of field servicing Supplies used in testing Systems development Warranty repairs Net cost of scrap Product testing Product recalls. Disposal of defective products Costs (in thousands) Last Year This Year $ 840 $ 870 $ 360 $ 600 $ 510 $ 300 $ 1,230 $ 0 $ 1,650 $ 60 $ 1,890 $ 300 $ 660 $ 3,000 $ 900 $ 30 $ 750 $ 1,200 $ 660 $ 1,230 $ 990 $ 1,350 $ 2,400 $ 750 $ 810 $ 930 Sales have been flat over the past few years, at $75,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective. Required: 1. Prepare a quality cost report that contains data for both this year and last year. (Enter amount values in thousands. Round your percentage answers to 2 decimal places (i.e 0.1234 should be entered as 12.34).) Prevention costs: Total prevention costs Appraisal costs Total appraisal costs Internal failure costs: Total internal failure costs External failure costs: Total external failure costs Total quality cost Florex Company Quality Cost Report Last Year This Year Amount (in thousands) Percent of Sales Amount (in thousands) Percent of Sales

FINANCIAL ACCOUNTING
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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Inspection Quality engineering Depreciation of test equipment Rework labor Statistical process control Cost of field servicing Supplies used in testing Systems development Warranty repairs Net cost of scrap Product testing Product recalls. Disposal of defective products Costs (in thousands) Last Year This Year $ 840 $ 870 $ 360 $ 600 $ 510 $ 300 $ 1,230 $ 0 $ 1,650 $ 60 $ 1,890 $ 300 $ 660 $ 3,000 $ 900 $ 30 $ 750 $ 1,200 $ 660 $ 1,230 $ 990 $ 1,350 $ 2,400 $ 750 $ 810 $ 930 Sales have been flat over the past few years, at $75,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective. Required: 1. Prepare a quality cost report that contains data for both this year and last year. (Enter amount values in thousands. Round your percentage answers to 2 decimal places (i.e 0.1234 should be entered as 12.34).) Prevention costs: Total prevention costs Appraisal costs Total appraisal costs Internal failure costs: Total internal failure costs External failure costs: Total external failure costs Total quality cost Florex Company Quality Cost Report Last Year This Year Amount (in thousands) Percent of Sales Amount (in thousands) Percent of Sales
Transcribed Image Text:Inspection Quality engineering Depreciation of test equipment Rework labor Statistical process control Cost of field servicing Supplies used in testing Systems development Warranty repairs Net cost of scrap Product testing Product recalls. Disposal of defective products Costs (in thousands) Last Year This Year $ 840 $ 870 $ 360 $ 600 $ 510 $ 300 $ 1,230 $ 0 $ 1,650 $ 60 $ 1,890 $ 300 $ 660 $ 3,000 $ 900 $ 30 $ 750 $ 1,200 $ 660 $ 1,230 $ 990 $ 1,350 $ 2,400 $ 750 $ 810 $ 930 Sales have been flat over the past few years, at $75,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective. Required: 1. Prepare a quality cost report that contains data for both this year and last year. (Enter amount values in thousands. Round your percentage answers to 2 decimal places (i.e 0.1234 should be entered as 12.34).) Prevention costs: Total prevention costs Appraisal costs Total appraisal costs Internal failure costs: Total internal failure costs External failure costs: Total external failure costs Total quality cost Florex Company Quality Cost Report Last Year This Year Amount (in thousands) Percent of Sales Amount (in thousands) Percent of Sales
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