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Walton Company measured its quality costs for the past two years and summarized those costs using the four categories shown below: Prevention costs Appraisal costs Internal failure costs External failure costs Last Year $ 357,000 $ 445,000 $ 790,000 $ 1,100,000 This Year $ 650,000 $ 545,000 Required 1 Required 2 $ 500,000 $ 680,000 Required: 1. Calculate the total cost of quality last year and this year. 2. For last year, calculate the cost in each of the four categories as a percent of the total cost of quality. 3. For this year, calculate the cost in each of the four categories as a percent of the total cost of quality. 4-a. Calculate the change in total cost of quality over the two-year period. 4-b. Is performance trending in a favorable or unfavorable direction? Complete this question by entering your answers in the tabs below. Required 3 Required 4A Required 4B Calculate the total cost of quality last year and this year. Last Year This Year

Walton Company measured its quality costs for the past two years and summarized those costs using the four categories shown below: Prevention costs Appraisal costs Internal failure costs External failure costs Last Year $ 357,000 $ 445,000 $ 790,000 $ 1,100,000 This Year $ 650,000 $ 545,000 Required 1 Required 2 $ 500,000 $ 680,000 Required: 1. Calculate the total cost of quality last year and this year. 2. For last year, calculate the cost in each of the four categories as a percent of the total cost of quality. 3. For this year, calculate the cost in each of the four categories as a percent of the total cost of quality. 4-a. Calculate the change in total cost of quality over the two-year period. 4-b. Is performance trending in a favorable or unfavorable direction? Complete this question by entering your answers in the tabs below. Required 3 Required 4A Required 4B Calculate the total cost of quality last year and this year. Last Year This Year

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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Walton Company measured its quality costs for the past two years and summarized those costs using the four categories shown below: Prevention costs Appraisal costs Internal failure costs External failure costs Required 1 Last Year Required: 1. Calculate the total cost of quality last year and this year. 2. For last year, calculate the cost in each of the four categories as a percent of the total cost of quality. 3. For this year, calculate the cost in each of the four categories as a percent of the total cost of quality. 4-a. Calculate the change in total cost of quality over the two-year period. 4-b. Is performance trending in a favorable or unfavorable direction? Required 2 $ 357,000 $ 445,000 $ 790,000 $ 1,100,000 Complete this question by entering your answers in the tabs below. Total cost of quality This Year $ 650,000 $ 545,000 $ 500,000 $ 680,000 Required 3 Required 4A Required 4B Calculate the total cost of quality last year and this year. Last Year This Year
Transcribed Image Text:Walton Company measured its quality costs for the past two years and summarized those costs using the four categories shown below: Prevention costs Appraisal costs Internal failure costs External failure costs Required 1 Last Year Required: 1. Calculate the total cost of quality last year and this year. 2. For last year, calculate the cost in each of the four categories as a percent of the total cost of quality. 3. For this year, calculate the cost in each of the four categories as a percent of the total cost of quality. 4-a. Calculate the change in total cost of quality over the two-year period. 4-b. Is performance trending in a favorable or unfavorable direction? Required 2 $ 357,000 $ 445,000 $ 790,000 $ 1,100,000 Complete this question by entering your answers in the tabs below. Total cost of quality This Year $ 650,000 $ 545,000 $ 500,000 $ 680,000 Required 3 Required 4A Required 4B Calculate the total cost of quality last year and this year. Last Year This Year
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