Corwin, Inc., produces cell phone equipment. Amanda Bentley, Corwin's president, implemented a quality-improvement program that has...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Corwin, Inc., produces cell phone equipment. Amanda Bentley, Corwin's president, implemented a quality-improvement program that has now been in operation for 2 years. The cost report shown here has recently been issued. (Click the icon to view the cost report.) Read the requirements. Requirement 1. For each period, calculate the ratio of each COQ category to revenues and to total quality costs. Begin by calculating the ratio of each COQ category to revenues and to total quality costs for 6/30/2019, then 12/31/2019. (Round your answers to the nearest whole percentage. Total quality costs as a percentage of revenues may not match the sum of each category's percentage due to rounding. 6/30/2019 (in thousands) Prevention costs % of % of total Actual revenues quality costs Machine maintenance $ Supplier training 430 23 70 Design reviews 523 Total prevention costs % % Appraisal costs Incoming inspections 118 342 Final testing 460 Total appraisal costs % % Internal failure costs Rework 235 133 Scrap 368 Total internal failure costs % % External failure costs Warranty repairs 168 594 Customer returns 762 Total external failure costs % % $ 2,113 Total quality costs % Total revenues $ 8,330 Data table Semi-Annual COQ Report, Corwin, Inc. (in thousands) 6/30/2019 12/31/2019 6/30/2020 12/31/2020 - Prevention costs Machine maintenance $ 430 $ 430 $ 370 $ 230 Supplier training 23 112 56 46 Design reviews 70 216 212 199 523 758 638 475 Total prevention costs Appraisal costs Incoming inspections 118 122 95 60 342 342 295 206 Final testing 460 464 390 266 Total appraisal costs Internal failure costs Rework 235 201 171 109 133 125 69 65 Scrap 368 Total internal failure costs 326 240 174 External failure costs Warranty repairs 168 90 74 67 594 546 263 194 Customer returns 762 636 337 261 Total external failure costs $ 2,113 $ 2,184 $ 1,605 $ 1,176 Total quality costs Total revenues $ 8,330 $ 9,070 $ 9,310 $ 8,910 Print Done Corwin, Inc., produces cell phone equipment. Amanda Bentley, Corwin's president, implemented a quality-improvement program that has now been in operation for 2 years. The cost report shown here has recently been issued. (Click the icon to view the cost report.) Read the requirements. Requirement 1. For each period, calculate the ratio of each COQ category to revenues and to total quality costs. Begin by calculating the ratio of each COQ category to revenues and to total quality costs for 6/30/2019, then 12/31/2019. (Round your answers to the nearest whole percentage. Total quality costs as a percentage of revenues may not match the sum of each category's percentage due to rounding. 6/30/2019 (in thousands) Prevention costs % of % of total Actual revenues quality costs Machine maintenance $ Supplier training 430 23 70 Design reviews 523 Total prevention costs % % Appraisal costs Incoming inspections 118 342 Final testing 460 Total appraisal costs % % Internal failure costs Rework 235 133 Scrap 368 Total internal failure costs % % External failure costs Warranty repairs 168 594 Customer returns 762 Total external failure costs % % $ 2,113 Total quality costs % Total revenues $ 8,330 Data table Semi-Annual COQ Report, Corwin, Inc. (in thousands) 6/30/2019 12/31/2019 6/30/2020 12/31/2020 - Prevention costs Machine maintenance $ 430 $ 430 $ 370 $ 230 Supplier training 23 112 56 46 Design reviews 70 216 212 199 523 758 638 475 Total prevention costs Appraisal costs Incoming inspections 118 122 95 60 342 342 295 206 Final testing 460 464 390 266 Total appraisal costs Internal failure costs Rework 235 201 171 109 133 125 69 65 Scrap 368 Total internal failure costs 326 240 174 External failure costs Warranty repairs 168 90 74 67 594 546 263 194 Customer returns 762 636 337 261 Total external failure costs $ 2,113 $ 2,184 $ 1,605 $ 1,176 Total quality costs Total revenues $ 8,330 $ 9,070 $ 9,310 $ 8,910 Print Done
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
1. We spent a lot of time talking about the cost of carry model for explaining the pricing of certain futures contracts based on the spot price and the cost of carry as outlined in the following...
-
Osborn, Inc., produces cell phone equipment. Amanda Westerly, Osborn's president, implemented a quality-improvement program that has now been in operation for 2 years. The cost report shown here has...
-
Osborn, Inc., produces cell phone equipment. Amanda Westerly, Osborns president, decided to devote more resources to the improvement of product quality after learning that her company had been ranked...
-
When we create our own Market Limitations In the mid-1960s a new electronics company was founded with a unique high-tech product a new type of computer. Thanks to its engineering know-how LOCKDOWN...
-
California Graphics is a U.S. corporation with $200 million of U.S.-source income and $10 million of foreign-source income. In addition, California Graphics has three-quarters ownership of a Canadian...
-
A vertical piston/cylinder has a linear spring mounted. The spring is mounted so at zero cylinder volume a balancing pressure inside is 100 kPa. The cylinder contains 0.5 kg of water at 125C,...
-
Hailstorm Company sells a single product for \($22\) per unit. Variable costs are \($14\) per unit and fixed costs are \($60,000\) at an operating level of 7,000 to 12,000 units. a. What is Hailstorm...
-
Texas has just passed a law making it mandatory to have every head of cattle inspected at least once a year for a variety of communicable diseases. Big Springs Enterprises is considering entering...
-
geting Question 15 of 17 Autocratic Company provided the following information: Budgeted input 88,000 gallons Actual input 86,100 gallons Budgeted production 46,000 units Actual production 47,000...
-
Use Jupyter notebook to solve this code: Source: # Load the data and libraries import pandas as pd import numpy as np from scipy import stats import matplotlib.pyplot as plt...
-
The unadjusted income statement of Astra Zenica Co. shows a net income of .The unadjusted income statement of Astra Zenica Co. shows a net income of P125,000 for the year ended December 31, 2021. The...
-
How can CRISPR-Cas9 be used to study gene regulation and epigenetic modifications, and what implications does this have for understanding complex biological processes ?
-
1.Identify and explain a key legal principle that survives to the present day for each of the following: a) Code of Hammurabi b) Mosaic Law 2.Veronica Smith is charged with assaulting Betty Knapp. a)...
-
Caesar & Co. had the following inventory data: Date Quantity Unit Cost July 1 Beginning inventory 5 $51 July 4 Purchase 10 $55 July 7 Sale 12 July 11 Purchase 9 $56 July 14 Sale 8 Assuming LIFO, what...
-
The attachment view of bereavement sees the benefit of maintaining continued bonds with those who have passed, For example, I feel privileged that I have multiple items throughout my house that were...
-
Determine the exact value of each trigonometric function. a.) sin (-) 9T b.) tan 2 17n .) cos d.) sec 3 13 e.) csc- 4 f.) cot- 4.
-
A survey of 70 college freshmen asked whether students planned to take biology, chemistry, or physics during their first year. Use the diagram to answer each question. How many of the surveyed...
-
Even if the system to be evaluated is operational, why might auditors decide to use a workload model to evaluate system efficiency rather than the real workload?
-
The nature of the resource demands generated via the workload model must be appropriate to the system or the component under study. Briefly explain.
-
What is meant by the representativeness of a workload model? How can the representativeness of a workload model be measured? In practice, why is it sometimes difficult to evaluate the...
Ida B And Her Plans To Maximize Fun Avoid Disaster And Save The World - ISBN: 0060730269 - Free Book
Study smarter with the SolutionInn App