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Radda [10]
3 years ago
12

Total quality management__________.

Business
1 answer:
artcher [175]3 years ago
3 0

Answer:

c. gives all employees the responsibility for achieving quality goals.

Explanation:

Total quality management is the process by which processes are continuously streamlined to avoid errors, improve experience of customers, and maintain training of employees. Every employee takes responsibility for producing final quality product.

The main focus of total quality management is to produce quality product by continuously improving the manufacturing process.

Although TQM originated in the manufacturing industry, it is applied in banking, finance, and medicine.

You might be interested in
Bates Company currently produces and sells 4,000 units of a product that has a contribution margin of $5 per unit. The company s
JulijaS [17]

Answer:

1,875 units.

Explanation:

Break-even is the point where a company neither generate profit not make loss, or we can say that it the sales at which the operating profit will be zero. It can be calculated for sales volume as-well-as dollar sales. Let's prepare a contribution income statement to calculate the break-even sales in quantity. We know that:

               EBIT / Operating Profit = (SP * Q) - (VC * Q) - Fixed Cost

where

SP = Selling Price

Q = Quantity / Units

VC = Variable cost

As it is understood that the operating profit at break-even is zero, simply put it in the above contribution income statements along with other figures given in the question.

⇒ 0 = (20 * Q) - (12 * Q) - 15,000

OR 15,000 / (20 - 12) = Q

⇒ Break-even units = Q = 1,875 units.

3 0
3 years ago
Ramort Company reports the following cost data for its single product. The company regularly sells 21,500 units of its product a
Fittoniya [83]

Answer:

Gross margin= $744,760

Explanation:

<u>The absorption costing method includes all costs related to production, both fixed and variable.</u> The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary fixed overhead= 52,900 / 21,500= $2.46

Total unitary production cost= 10.3 + 12.3 + 3.3 + 2.46= $28.36

<u>Now, the gross margin:</u>

Gross margin= sales - COGS

Gross margin= 21,500*63 - 21,500*(28.36)

Gross margin= $744,760

7 0
3 years ago
On March 1, Bartholomew Company purchased a new stamping machine with a list price of $77,000. The company paid cash for the mac
nikdorinn [45]

Answer:

$81,020

Explanation:

The cost of the asset includes the cost of purchase less any given discount or tax returns and the addition of other cost incurred in making the asset available for use.

As such, the cost of the machine

= $77,000 - (5% * $77,000) + $2,000 + $4,520 + $1,350

= $81,020

The routine maintenance cost is not a part of the asset but an expense in p/l.

8 0
3 years ago
ABC Mechanics charges an estimate fee of $100 plus $40 per hour, x, in labor. XYZ Mechanics charges an estimate fee of $65 plus
Dima020 [189]

Answer:

5 hours  would work! Hope it helps!

Explanation:

100 off top!

40 in labor for each hour

40 times 5 is 200

so that would cost 300

for xyz

65 off top and 50 in labor for each hour

5 times 50 is 250

250 plus 65 is 315 !

7 0
3 years ago
Western company begins the year with $50,000 of inventory on hand. During 2018, western purchases additional inventory for $100,
slava [35]

Answer:

Debit cost of goods sold $40,000

Explanation:

As with the details of inventory we have:

Opening value of inventory = $50,000

Purchases = $100,000

Thus, total inventory = $150,000

On the closing date we have the balance of inventory in hand = $110,000

Therefore, cost of goods sold = Total inventory - Closing

= $150,000 - $110,000 = $40,000

Cost of goods sold is an expense, and shall be debited.

8 0
3 years ago
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