Improving quality is an important competitive issue for a.manufacturing firms only. b.supplying firms only. c.service firms...

Improving quality is an important competitive issue for

a.manufacturing firms only.

b.supplying firms only.

c.service firms only.

d.all firms.

Which of the following is an example of a physical measure of quality?

a.contract errors

b.number of defects per unit

c.billing errors

d.All of these choices are correct.

If the standard quantity (SQ), actual quantity (AQ), standard price (SP), and actual price (AP) are 350 units, 400 units, $12, and $13 respectively, then the total budget variance is _____.

a.$1,000 unfavorable

b.$1,000 favorable

c.$250 favorable

d.$250 unfavorable

Which of the following is NOT a dimension of quality?

a.performance

b.reliability

c.durability

d.All of these choices are dimensions of quality.

Solutions

Expert Solution

Ans1 (a) Improving Quality is the competitive issue for (a) Manufa turing Firm only because manufacturing firms are struggling to improve the qualty of product to survive in the Business Enviornment in long run.Business environment is dynamic in nature so it is necessary to adopt changes time to time.

Changes also require new and improved technology which is a big challenge for a manufacturing firms as its required large amount of investment.

Ans 2b) Number of defects per units helps to identify the physical measure of quality of products.Contract errors and billing errors does not determine the physical measures.

Ans 3(a ) Total Budget Variance=AQ*AP-SQ*SP=400*$13-350*$12=$1000(Unfavorable)

Ans 4) (d) All of these are dimensions of quality

Performance: It includes measurable ,attributes , any brandsof a products can usually be ranked on the basis of individual aspects of performance.

Reliability: This is a key element of users who rely on he products

Durability: IT measures the length of a product life.It means how long the product can run without any problem, like repair etc.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Wireless Mouse Summarize important design guidelines for improving manufacturability and thus improving quality and reducing cost.

It is very important for a health care manager to continually focus on improving quality in...

It is very important for a health care manager to continually focus on improving quality in his/her department in a health care organization. Why? Quality and value are closely tied to reimbursement. The health system is moving towards reimbursement based on ‘value-based care’. By 2018, 50% of Medicare payments will be based on value-based models of care. 1. In two or three sentences, discuss the role of quality improvement in healthcare. 2. Pretend you are a department manager of quality...

How important is telemedicine and telehealth in providing access to care? In improving quality of care?...

How important is telemedicine and telehealth in providing access to care? In improving quality of care? this question from health information system course

1. Why do firms issue debt instead of only issuing equity? 2. Why do firms focus...

1. Why do firms issue debt instead of only issuing equity? 2. Why do firms focus on capital structure? 3. What do you think of a high profit firm like Microsoft with over 200 billion of cash and marketable securities on its balance sheet, would issue debt?

1. Why do firms issue debt instead of only issuing equity? 2. Why do firms focus...

1. Monopolistic competitive firms and perfectly competitive firms are similar in that both

1. Monopolistic competitive firms and perfectly competitive firms are similar in that bothGroup of answer choicesset price equal to marginal cost.face a horizontal demand curve.face no barriers to entry or exit.produce a homogeneous product.all of the above2. Does the monopolistic competitive firm exhibit resource-allocative efficiency?Group of answer choicesNo, because at its chosen quantity of output, price does not equal the lowest possible average total cost.Yes, because at its chosen quantity of output, price equals marginal cost.No, because at its chosen...

Which statement is not true for a perfectly competitive market? * a-Firms are price takers b-Only...

Which statement is not true for a perfectly competitive market? * a-Firms are price takers b-Only one seller. c-Many buyers. d-No barriers to entry or exit. For a perfectly competitive firm, if total revenue is less than total cost but greater than total variable cost, that means: * a-Price is below average variable cost only b-Price is above average total cost only c-Price is below average total cost but above average variable cost d-Price is below both average total cost...

compared with firms in a perfectly competitive industry, firms in a monopolistically competitive industry are inefficient...

compared with firms in a perfectly competitive industry, firms in a monopolistically competitive industry are inefficient because thery a. do not lower the product price if put prices fall b. waste resources by producing an excess amount of output c. restrict their output levels to maximiz profirs d make economic profits in the long run. which of the following statement is true about a firm in a perfectly competitive market a. the demand for its product is a downward sloping...

Monopolistically competitive firms compete only on price, earn excess economic profits in the LR and lead...

Monopolistically competitive firms compete only on price, earn excess economic profits in the LR and lead to wastage of scarce resources through excess capacity. In addition, the business stealing effect imposes a large cost on society. Do you agree? Carefully analyse each part of this statement briefly.

Identify the competitive advantage strategies and explain why most firms pursue only one of these strategies.

Subjects