$17-56$: Nonfinancial Quality Indicators: ABC MFG$.$ is evaluating the desirability of implementing process improvments and is seeking your help in determind wheather it should proceed with the proposed improvements. One area of foucs is how the improvements will affect processing time $($cycle$-$time efficiency$).$ Estimated activities and associated times for these activities under both the current process and after process improvements area as follows: Process Activity Current Process After Process Improvements Wait Time $4$ hours $1$ hour Inspection $40$ minutes $5$ minutes Moving $80$ minutes $20$ minutes Processing $($manufacturing$)2$ hours $75$ minutes Required: $1.$ Determine the production $($manufacturing$)$ lead time for each of the two decision alternatives. $2.$ Determine the processing cycle effciency $($PCE$)$ for each decision alternative. $3.$ Based on only the PCE figures calculated in requirement $2,$ should the company implement the proposed process improvements? Why or why not? $4.$ Why would process improvements, such as those referenced above, likely lead to improved financial results?