Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 10.7, Problem 1CC
Describe total quality management and the role that Six Sigma, ISO 9000, and ISO 14000 play in it.
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The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying
and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint
products are processed beyond the split-off point, incurring separable processing costs. There is a $1,300 disposal cost for the by-
product. A summary of a recent month's activity at Marshall is shown below:
Units sold
Units produced
Separable processing costs-variable
Separable processing costs-fixed
Sales price
Ying
65,000
65,000
$ 182,000
Yang
52,000
52,000
Bit
13,000
13,000
$ 55,000
$
$ 13,000
$ 6.00
$ 10,000
$ -
$ 12.50
$ 1.50
Total joint costs for Marshall in the recent month are $188,200, of which $80,926 is a variable cost.
Required:
1. Calculate the manufacturing cost per unit for each of the three products.
Note: Round manufacturing cost per unit answers to 2 decimal places.
2. Calculate the total gross margin…
Chapter 10 Solutions
Introduction to Business
Ch. 10.1 - What are the three types of decisions that must be...Ch. 10.1 - What are the three phases of production planning?Ch. 10.2 - Describe the different types of production...Ch. 10.2 - How are inputs transformed into outputs in a...Ch. 10.3 - What factors does a firm consider when making a...Ch. 10.3 - What should be considered when deciding on a...Ch. 10.4 - What are the approaches to inventory that...Ch. 10.4 - How is technology being used in resource planning?Ch. 10.5 - What is production control, and what are its key...Ch. 10.5 - How can value-stream mapping improve routing...
Ch. 10.5 - Identify and describe three commonly used...Ch. 10.6 - How can managers use techniques to improve...Ch. 10.6 - Define Six Sigma.Ch. 10.6 - What was Edward Damming's contribution to...Ch. 10.7 - Describe total quality management and the role...Ch. 10.7 - How can lean manufacturing and just-in-time...Ch. 10.7 - How are both manufacturing and nonmanufacturing...Ch. 10.8 - Describe the impact of the anticipated worker...Ch. 10.8 - How are today's educational trends affecting the...Ch. 10.8 - What is business process management (BPM, and how...Ch. 10 - A recent spate of mine disasters that caused...Ch. 10 - Why would an e-mail rules memo like this work...Ch. 10 - What are the potential problems that could arise...
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