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In: Accounting

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
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