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The following represents the financial information for Plaza Plastics for May and June Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework May $ 783,000 $ 2,060 2,940 23,840 5,240 8,480 3,440 19,840 June $ 576,000 $ 1,770 1,820 11,780 4,400 6,380 3,140 16,730

The following represents the financial information for Plaza Plastics for May and June Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework May $ 783,000 $ 2,060 2,940 23,840 5,240 8,480 3,440 19,840 June $ 576,000 $ 1,770 1,820 11,780 4,400 6,380 3,140 16,730

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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Exercise 10-58 (Algo) Trading-Off Costs of Quality (LO 10-7, 8) The following represents the financial information for Plaza Plastics for May and June Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework Preventive maintenance Legal expense for warranty claims Materials inspection May $ 783,000 $ 2,060 2,940 23,840 5,240 8,480 3,440 19,840 16,280 7,880 11,360 June $ 576,000 $ 1,770 1,820 11,780 4,400 6,380 3,140 16,730 8,630 4,400 11,240 Required: Construct a cost of quality report for May and June. Note: Input all amounts as positive numbers. Round your percentage answers to 1 decimal place (i.e., .321 as 32.1).
Transcribed Image Text:Exercise 10-58 (Algo) Trading-Off Costs of Quality (LO 10-7, 8) The following represents the financial information for Plaza Plastics for May and June Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework Preventive maintenance Legal expense for warranty claims Materials inspection May $ 783,000 $ 2,060 2,940 23,840 5,240 8,480 3,440 19,840 16,280 7,880 11,360 June $ 576,000 $ 1,770 1,820 11,780 4,400 6,380 3,140 16,730 8,630 4,400 11,240 Required: Construct a cost of quality report for May and June. Note: Input all amounts as positive numbers. Round your percentage answers to 1 decimal place (i.e., .321 as 32.1).
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