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jek_recluse [69]
3 years ago
12

Rinker Audio Products wants to adopt the total quality management (TQM) philosophy as developed by, among others, W. Edwards Dem

ing. The company employees are, however, confused as to what TQM entails. As a consultant, you are helping Rinker's employees understand TQM as it would impact them. Which of the following is true of W. Edwards Deming's beliefs about the total quality management philosophy?a. Quality of supervision should be improved by allowing more time for supervisors to work with employees.
b. Management should embrace the philosophy that mistakes are often acceptable.
c. Work standards should be defined only as numbers or quotas.
d. Achieving better quality requires commitment more at the top management than at any other level.
e. Management should create an environment in which employees will follow recommendations rather than recommend changes.
Business
1 answer:
natta225 [31]3 years ago
3 0

Answer:

Option (a) is correct

Explanation:

Total quality management is a process by which a business aims to minimize errors, with maximizing it's output, laying immense emphasis on product quality and customer satisfaction.

Such an approach was developed by Edwards Deming who emphasized upon efficient production, reduction of defects and wastage and continuous employee learning process that enhances the skills.

The focus of TQM is upon minimizing defects and errors as well as providing quality products to customers.

Such a process calls for, all those individuals who are involved in the production process to assume responsibility for product defects and errors.

TQM lays emphasis upon improving internal practices prevailing within the company which yield desired results.

Thus, one of the facets of such an approach being, improvement of supervision by allowing more time to supervisors to work and coordinate well with employees.

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Degregorio Corporation makes a product that uses a material with the following direct material standards: Standard quantity 2.5
nydimaria [60]

Answer:

Materials quantity variance = $1,750(U)

Explanation:

Standard quantity(SQ) = $2.5 * 6600 = 16500 Kg

Standard Price( SP) = $5  

Actual quantity(AQ) = 16,850 Kg  

Actual Price( AP) = $90,720 / 18,900 kg = $4.8

Materials quantity variance = SP * (SQ - AQ)  

Materials quantity variance = 5 * ( 16500 - 16,850 )

Materials quantity variance = 5 * (350)

Materials quantity variance = $1,750(U)

7 0
3 years ago
Sheridan Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 485 units that
Kipish [7]

Answer:

Value of closing inventory = $25771.04

Explanation:

To calculate the value of ending inventory under a periodic average cost method, we will calculate the average price per unit of inventory at the end of the month. To calculate the average price per unit, we simply divide the total cost of the inventory by the total number of units for the month.

Average cost per unit = Total cost of all units for the month / Total units available for the month

<u />

<u>Total cost of all units:</u>

Beginning inventory (485 * 66)            32010

Purchase 1     (725 * 69)                        50025

Purchase 2     (364 * 71)                    <u>    25844</u>

Total                                                       107879

<u>Total Units</u>

Beginning Inventory     485

Purchase 1                     725

Purchase 2                    <u>364</u>

Total                              1574

Average cost per unit =   107879 / 1574

Average cost per unit = $68.54

Units of closing inventory = 1574 - 1198     =   376 units

Value of closing inventory =  376 * 68.54

Value of closing inventory = $25771.04

6 0
3 years ago
Security X has an expected rate of return of 13% and a beta of 1.15. The risk-free rate is 5%, and the market expected rate of r
kondaur [170]

Answer:

B) overpriced

Explanation:

Please see attachment

8 0
3 years ago
The weak form of the efficient-market hypothesis asserts that stock prices do not rapidly adjust to new information contained in
Bess [88]
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6 0
3 years ago
Jessep Corporation has a standard cost system in which manufacturingoverhead is applied to units of product on the basis of dire
Orlov [11]

Answer:

Standard fixed overhead rate

= Budgeted fixed overhead cost

  Budgeted direct labour hours

= $45,000

  15,000 hours

= $3 per direct labour hour

Fixed overhead volume variance

= (Standard hours - Budgeted hours) x Standard fixed overhead rate

= (12,000 hours - 15,000  hours)  x $3

= $9,000(U)

The correct answer is B

Explanation:

In this case, we need to calculate standard fixed overhead rate, which is budgeted fixed overhead cost  divided by budgeted direct labour hours. Then, we will calculate fixed overhead volume variance, which is the difference between standard hours and budgeted hours multiplied by standard fixed overhead rate.

8 0
3 years ago
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