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Long-Term Performance Report Nabors Company had actual quality costs for the year ended June 30, 20x5, as given below. Prevention costs: Prototype inspection Vendor certification Total prevention costs Appraisal costs: Process acceptance Test labor Total Appraisal costs Internal failure costs: Retesting Rework Total internal failure costs External failure costs: Recalls Product liability Total external failure costs Prevention costs: $260,000 520,000 $ 780,000 Total prevention costs Appraisal costs: $ 275,000 320,000 $595,000 Total quality costs At the zero-defect state, Nabors expects to spend $325,000 on prototype inspection, $65,000 on vendor certification, and $35,000 on process acceptance. Assume sales to be $2,900,000. Required: $ 167,500 335,000 $ 502,500 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. Actual Costs $340,750 418,500 $759,250 $2,636,750 Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Target Costs goldl gd gold Budget Variance Favorable; or Unfavorable god god 000

Long-Term Performance Report Nabors Company had actual quality costs for the year ended June 30, 20x5, as given below. Prevention costs: Prototype inspection Vendor certification Total prevention costs Appraisal costs: Process acceptance Test labor Total Appraisal costs Internal failure costs: Retesting Rework Total internal failure costs External failure costs: Recalls Product liability Total external failure costs Prevention costs: $260,000 520,000 $ 780,000 Total prevention costs Appraisal costs: $ 275,000 320,000 $595,000 Total quality costs At the zero-defect state, Nabors expects to spend $325,000 on prototype inspection, $65,000 on vendor certification, and $35,000 on process acceptance. Assume sales to be $2,900,000. Required: $ 167,500 335,000 $ 502,500 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. Actual Costs $340,750 418,500 $759,250 $2,636,750 Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Target Costs goldl gd gold Budget Variance Favorable; or Unfavorable god god 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required: 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. 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 costs Percentage of sales Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Actual Costs colblood gold Target Costs gold god odd 2. Why are quality costs still present for the zero-defect state? Budget Variance golol gold goldl godbl Favorable; or Unfavorable
Transcribed Image Text:Required: 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. 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 costs Percentage of sales Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Actual Costs colblood gold Target Costs gold god odd 2. Why are quality costs still present for the zero-defect state? Budget Variance golol gold goldl godbl Favorable; or Unfavorable
Long-Term Performance Report Nabors Company had actual quality costs for the year ended June 30, 20x5, as given below. Prevention costs: Prototype inspection Vendor certification Total prevention costs Appraisal costs: Process acceptance Test labor Total Appraisal costs Internal failure costs: Retesting Rework Total internal failure costs External failure costs: Recalls Product liability Total external failure costs 111 Prevention costs: $ 260,000 Total prevention costs Appraisal costs: 520,000 $ 780,000 $ 275,000 320,000 $ 595,000 $167,500 335,000 $ 502,500 Total quality costs At the zero-defect state, Nabors expects to spend $325,000 on prototype inspection, $65,000 on vendor certification, and $35,000 on process acceptance. Assume sales to be $2,900,000. Required: $340,750 418,500 $ 759,250 $2,636,750 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Actual Costs Target Costs Budget Variance Favorable; or Unfavorable
Transcribed Image Text:Long-Term Performance Report Nabors Company had actual quality costs for the year ended June 30, 20x5, as given below. Prevention costs: Prototype inspection Vendor certification Total prevention costs Appraisal costs: Process acceptance Test labor Total Appraisal costs Internal failure costs: Retesting Rework Total internal failure costs External failure costs: Recalls Product liability Total external failure costs 111 Prevention costs: $ 260,000 Total prevention costs Appraisal costs: 520,000 $ 780,000 $ 275,000 320,000 $ 595,000 $167,500 335,000 $ 502,500 Total quality costs At the zero-defect state, Nabors expects to spend $325,000 on prototype inspection, $65,000 on vendor certification, and $35,000 on process acceptance. Assume sales to be $2,900,000. Required: $340,750 418,500 $ 759,250 $2,636,750 1. Prepare a long-range performance report for 20x5. Enter all answers as positive amounts. If the budget variance amount is unfavorable select "Unfavorable" in the last column of the table. Select "Favorable" if it is favorable. Round percentage answers to two decimal places, if rounding is required. For example, 5.789% would be entered as "5.79". Enter "0" as the target cost amount if there would be no cost at the zero-defect state. Nabors Company Long-Range Performance Report For the Year Ended June 30, 20x5 Actual Costs Target Costs Budget Variance Favorable; or Unfavorable
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