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natali 33 [55]
3 years ago
8

What is considered one of the four major cost of quality​ categories?

Business
1 answer:
valina [46]3 years ago
8 0

Answer:

The four major cost of quality categories are:

Prevention costs

Appraisal costs

Internal failure costs

External failure costs

Explanation:

Prevention  costs are incurred to ensure that products meet standard specification such that they can be seen as fit for purpose,hence the situation where customers return such goods is nipped in the bud

Appraisal costs are costs incurred to test whether products produced meet the prerequisite specification.An inspection cost is a typical example of prevention cost

Internal failure costs are costs expended in reworking and putting products in right shape when quality failure occurs in-house.

External failure costs are costs spent to remedy a quality failure situation when the goods have already been sold to customers.For instance, costs of warranties

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Answer:

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Explanation:

Perfectly Competitive Market

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Perfectly Competitive Industry

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Explicit Costs

These are costs that are simply known as "out-of-pocket" costs or in accounting costs. They are an individual's fixed and variable costs of doing business.

Implicit Costs

These are costs that do not partains to monetary payment as they are the opportunity costs of doing business.

It is said that at zero profit, the revenue covers all the costs, including the implicit ones. The fact that her implicit costs are covered shows that no outside option or opportunity that is superior to the zero economic profit option is chosened.

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he values your time

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The blank space has been correctly filled below:

  • The contribution margin income statement allows users to easily judge the impact of a change in <u>selling price, cost, or volume</u> on profit.

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After their evaluation, they realize the operating income or net income. The contribution margin is generated using this formula,

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A proper understanding of the fixed and variable costs is essential to accurately calculate the contribution margin.

Learn more here:

brainly.com/question/24596251

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