The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriate cost-of-quality categories. Quality Cost Loan Processing 1. Run credit checks: 2. Review documents: 3. Make document corrections; gather additional information: 4. Prepare tickler file; review and follow up on titles, insurance, second meetings: 5. Review all output: 6. Correct rejects and incorrect output: 7. Reconcile incomplete collateral report: 8. Handle dealer problem calls; address associate problems; research and communicate information: 9. Compensate for system downtime: 10. Conduct training: Loan Payment 1. Receive, inspect, and process payments: 2. Respond to inquiries when no coupon is presented with payments: Loan Payoff 1. Receive, inspect, and process payoff and release documents: 2. Research payoff problems: Amount Cost Classification $2,650.15 $3,301.19 $1,390.65 $111.90 $2,038.58 $452.20 $76.86 $2,770.00 $589.22 $1,340.00 $780.00 $835.25 $290.14 $15.59 -Select- -Select- -Select- -Select- -Select- Appraisal External failure Internal failure Prevention -Select- -Select- -Select- -Select- -Select-
The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriate cost-of-quality categories. Quality Cost Loan Processing 1. Run credit checks: 2. Review documents: 3. Make document corrections; gather additional information: 4. Prepare tickler file; review and follow up on titles, insurance, second meetings: 5. Review all output: 6. Correct rejects and incorrect output: 7. Reconcile incomplete collateral report: 8. Handle dealer problem calls; address associate problems; research and communicate information: 9. Compensate for system downtime: 10. Conduct training: Loan Payment 1. Receive, inspect, and process payments: 2. Respond to inquiries when no coupon is presented with payments: Loan Payoff 1. Receive, inspect, and process payoff and release documents: 2. Research payoff problems: Amount Cost Classification $2,650.15 $3,301.19 $1,390.65 $111.90 $2,038.58 $452.20 $76.86 $2,770.00 $589.22 $1,340.00 $780.00 $835.25 $290.14 $15.59 -Select- -Select- -Select- -Select- -Select- Appraisal External failure Internal failure Prevention -Select- -Select- -Select- -Select- -Select-
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
Loan Processing | ||||
1. | Run credit checks: | $2,650.15 | ||
2. | Review documents: | $3,301.19 | ||
3. | Make document corrections; gather additional information: | $1,390.65 | ||
4. | Prepare tickler file; review and follow up on titles, | $111.90 | ||
insurance, second meetings: | ||||
5. | Review all output: | $2,038.58 | ||
6. | Correct rejects and incorrect output: | $452.20 | ||
7. | Reconcile incomplete collateral report: | $76.86 | ||
8. | Handle dealer problem calls; address associate problems; | $2,770.00 | ||
research and communicate information: | ||||
9. | Compensate for system downtime: | $589.22 | ||
10. | Conduct training: | $1,340.00 | ||
Loan Payment | ||||
1. | Receive, inspect, and process payments: | $780.00 | ||
2. | Respond to inquiries when no coupon is presented with payments: | $835.25 | ||
Loan Payoff | ||||
1. | Receive, inspect, and process payoff and release documents: | $290.14 | ||
2. | Research payoff problems: | $15.59 |

Transcribed Image Text:Enter names in column A and frequencies in column B. Enter data only in yellow cells; the template will chart up to Not for commercial use.
Then use the Excel sort procedure to sort the data in columns A and B only from largest to smallest on column B.
Name
Internal failure
Appraisal
External failure
Prevention
Amount Percent of Total
46.96%
38.95%
10.31%
3.78%
410000
340000
90000
33000
Total 873000
400,000
300,000
200,000
100,000
Pareto Chart
Appraisal
External failure
Prevention
Internal failure
Series 1

Transcribed Image Text:The following cost-of-quality data were collected at the installment loan department of the Kenney Bank. Classify these data into the appropriate
cost-of-quality categories.
Quality Cost
Loan Processing
1. Run credit checks:
2. Review documents:
3. Make document corrections; gather additional information:
4. Prepare tickler file; review and follow up on titles,
insurance, second meetings:
5. Review all output:
6. Correct rejects and incorrect output:
7. Reconcile incomplete collateral report:
8. Handle dealer problem calls; address associate problems;
research and communicate information:
9. Compensate for system downtime:
10. Conduct training:
Loan Payment
1. Receive, inspect, and process payments:
2. Respond to inquiries when no coupon is presented with payments:
Loan Payoff
1. Receive, inspect, and process payoff and release documents:
2. Research payoff problems:
Amount
$2,650.15
$3,301.19
$1,390.65
$111.90
$2,038.58
$452.20
$76.86
$2,770.00
$589.22
$1,340.00
$780.00
$835.25
$290.14
$15.59
Cost Classification
-Select-
-Select-
-Select-
-Select-
-Select-
Appraisal
External failure
Internal failure
Prevention
-Select-
-Select-
-Select-
-Select-
-Select-
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