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1 year ago

Define quality and list and discuss in brief the various dimensions of quality in operations.

1 answer:

5 0

Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy given needs.

Dimensions of quality; Is strategic management tool that can be used as a framework to analyze characteristics of quality.

The eight dimensions are performance, features, reliability, conformance, durability, serviceability, aesthetics, and perceived quality.

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Bruno Company accumulates the following data converning a mixed cost, using miles as the activity level.

Snezhnost [94]

Answer:

The answer is stated below:

Explanation:

Taking the highest and second lowest cost and miles driven as:

Cost = Highest - Lowest

Cost = $15,000 - $14,150

Cost = $850

Miles Driven = Highest - Lowest

Miles driven = 8,500 - 8,000

Miles Driven = 500

So,

= Cost / Miles driven

= $850 / 500

= $1.70

Total Cost would be 15,000 and 13,500

So, computing the variable cost as:

Variable cost of highest cost (VC) = Miles driven of $15,000 cost × $1.70

VC = 8,500× $1.70

VC = $14,450

Variable cost of lowest cost (VC) = Miles driven of $13,500 cost × $1.70

VC = 7,500× $1.70

VC = $12,750

Computing fixed cost as:

Fixed cost of highest cost = Total cost - VC

= $15,000 - $14,450

= $550

Fixed cost of lowest cost = Total cost - VC

= $13,500 - $12,750

= $750

5 0

4 years ago

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During Jun

Leya [2.2K]

Answer:

The accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Explanation:

Note: See the attached excel file for the analysis of the Effect of June Transactions on the Accounting Equation

From the last balances in the attached excel file, we have:

Assets = Cash + Receivable + Equipment = $41,000 + $8,000 + $31,000 = $80,000

Liabilities = Payable = $0

Equity = M. Chen, Capital - M. Chen, Withdrawals + Revenue - Expenses = $75,000 - $1,000 + $10,500 - $4,500 = $80,000

Liabilities + Equity = $0 + $80,000 = $80,000

Therefore, the accounting equation holds as follows:

Asset = Liabilities + Equity = $80,000

Download xlsx

4 0

3 years ago

A trial balance consists of:Multiple ChoiceA two-column financial statement intended for distribution to interested parties outs

icang [17]

Answer:

A two-column schedule listing names and balances of all ledger accounts.

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet: it contains financial information about assets, liability, and equity.

2. Cash flow statement: it contains financial information about operating, financial and investing activities.

3. Income statement: it contains financial information about the income and expenses of an organization.

4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.

A trial balance consists of a two-column schedule listing names and balances of all ledger accounts.

5 0

3 years ago

Maritime Marine Company has total estimated factory overhead for the year of $986,800, divided into four activities: fabrication

Hatshy [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Estimated costs:

fabrication= $386,400

assembly= $207,900

setup= $112,000

inspection= $280,500.

Fabrication Assembly Setup Inspection

Speedboat: 1,200 dlh 1,800 dlh 60 setups 600 inspections

Bass boat: 1,800 1,200 100 200

3,000 dlh 3,000 dlh 160 setups 800 inspections

First, we need to calculate the overhead rate for each activity:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

fabrication= 386,400/3,000= $128.8 per direct labor hour

assembly= 207,900/3,000= $69.3 per direct labor hour

setup= 112,000/160= $700 per setup

inspection= 280,500/800= $350.63 per inspection

Now, we can allocate overhead to each product:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Speedboat= 1,200*128.8 + 1,800*69.3 + 60*700 + 600*350.63

Speedboat= $531,678

Bass boat= 1,800* 128.8 + 1,200*69.3 + 100*700 + 200*350.63

Bass boat= 455,126

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4 years ago

You are considering a project which has been assigned a discount rate of 5 percent. If you start the project today, you will inc

riadik2000 [5.3K]

Answer:

$361.14

Explanation:

start the project today:

initial outlay = -$4,100

cash flow year 1 = $2,900

cash flow year 2 = $2,900

NPV = -$4,100 + $5,392.29 = $1,292.29

if you start the project in one year:

initial outlay year 1 = -$4,320

cash flow year 2 = $3,257

cash flow year 3 = $3,257

NPV year 1 = -$4,320 + $6,056.10 = $1,736.10

value of option to wait = ($1,736.10 / 1.05) - $1,292.29 = $361.14

8 0

3 years ago