In response to intensive foreign competition, the management of Florex Company has attempted over the past year to improve the quality of its products. A statistical process control system has been installed and other steps have been taken to decrease the amount of warranty and other field costs, which have been trending upward over the past several years. Costs relating to quality and quality control over the last two years are given below. Costs in thousands) Last This Year Inspection Year $ 660 $ 1,215 Quality engineering $ 300 $ 600 Depreciation of test equipment $ 300 $ Rework labor 225 $ 900 $ 1,500 Statistical process control $ 0 $ 300 Cost of field servicing $ 1,200 $ 1.050 Supplies used in testing $ 30 $ 60 systems development $ 900 $ 750 Warranty repairs $ 3,375 $1,350 Net cost of scrap $ 450 $ 900 Product testing $ 1,110 $1,350 Product recalls $ 2,625 5 750 Disposal of defective products 750 750 Sales have been flot over the past few years, at $75,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective Required: 1. Prepare a quality cost report that contains data for both this year and last year center amount values in thousands. Round your percentage answers to 2 decimal places le 01234 should be entered as 12,34).) Florex Company Quality Cost Report