I need help with cost accounting. Thanks. Wakefield Technology Inc., Cost of Quality – JuneThe following production information about quality costs for Wakefield Technology, Inc. has been gatheredfor the month of June.Total defective units720Number of units reworked595Number of units returned85Total prevention cost$27,600Total appraisal cost$8,500Per-unit profit for defective units$20Per-unit profit for defective units$55Cost to rework defective units$18Cost to handle returned units$14Instructions: Using formulas/functions wherever possible, complete the following on the Input Tab.1. Using these data, calculate the following:a. Total cost to reworkb. Profit lost from not reworking all defective unitsc. Cost of processing customer returnsd. Total failure costse. Total quality costs2. If Wakefield Technology Inc. budgeted $50,000 for Quality Costs for the month, did they over orunder spend in June?

(a) The calculation for requirement 1 are as follows: (1) Total Cost to Rework=Number of Reworked…

Instructions: Using formulas/functions wherever possible, complete the following on the Input Tab. 1. Using these data, calculate the following: a. Total cost to rework b. Profit lost from not reworking all defective units c. Cost of processing customer returns d. Total failure costs e. Total quality costs 2. If Wakefield Technology Inc. budgeted $50,000 for Quality Costs for the month, did they over or under spend in June?

Instructions: Using formulas/functions wherever possible, complete the following on the Input Tab. 1. Using these data, calculate the following: a. Total cost to rework b. Profit lost from not reworking all defective units c. Cost of processing customer returns d. Total failure costs e. Total quality costs 2. If Wakefield Technology Inc. budgeted $50,000 for Quality Costs for the month, did they over or under spend in June?

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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