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Managerial Accounting - Decision Making and Motivating Performance

Srikant M. Datar, Madhav V. Rajan

Chapter 10

Quality, Inventory Management, and Time - all with Video Answers

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Chapter Questions

02:30

Problem 1

How does conformance quality differ from design quality? Explain.

Ameer Said
Ameer Said
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02:16

Problem 2

Describe three methods that companies use to identify quality problems.

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Ameer Said
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01:18

Problem 3

"Companies should focus on financial measures of quality because these are the only measures of quality that can be linked to bottom-line performance," Do you agree? Explain.

Ameer Said
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01:48

Problem 4

Why might goal-congruence issues arise when managers use an EOQ model to guide decisions on how much to order?

Ameer Said
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01:01

Problem 5

"JIT purchasing has many benefits but also some risks." Do you agree? Explain briefly.

Ameer Said
Ameer Said
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01:17

Problem 6

"You should always choose the supplier who offers the lowest price per unit." Do you agree? Explain.

Ameer Said
Ameer Said
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03:47

Problem 7

What are the main features of JIT production and what are its benefits and costs?

Ameer Said
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01:35

Problem 8

Discuss the differences between lean accounting and traditional cost accounting.

Ameer Said
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01:22

Problem 9

"There is no tradeoff between customer-response time and on-time performance." Do you agree? Explain.

Ameer Said
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01:12

Problem 10

"Companies should always make and sell all products whose selling prices exceed variable costs." Assuming fixed costs are irrelevant, do you agree? Explain.

Ameer Said
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Problem 11

Costs of quality. (CMA, adapted) Osborn, Inc., produces cell phone equipment. Amanda Westerly, Osborn's president, decided to devote more resources to the improvement of product quality after learning that her company had been ranked fourth in product quality in a 2010 survey of cell phone users. Osborn's quality-improvement program has now been in operation for 2 years, and the cost report shown here has recently been issued.(TABLE CAN'T COPY)

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00:00

Problem 12

Costs of quality analysis. Safe Travel produces car seats for children from newborn to 2 years old. The company is worried because one of its competitors has recently come under public scrutiny because of product failure. Historically, Safe Travel's only problem with its car seats was stitching in the straps. The problem can usually be detected and repaired during an internal inspection. The cost of the inspection is $$\$6$$ per car seat, and the repair cost is $$\$ 1.25$$ per car seat. All 175,000 car seats were inspected last year and $5 \%$ were found to have problems with the stitching in the straps during the internal inspection. Another $1 \%$ of the 175,000 car seats had problems with the stitching, but the internal inspection did not discover them. Defective units that were sold and shipped to customers needed to be shipped back to Safe Travel and repaired. Shipping costs are $$\$ 9$$ per car seat, and repair costs are $$\$ 1.25$$ per car seat. However, the out-of-pocket costs (shipping and repair) are not the only costs of defects not discovered in the internal inspection. Negative publicity will result in a loss of contribution margin of $$\$ 168$$ for each extemal failure.

Oluwadamilola Ameobi
Oluwadamilola Ameobi
Numerade Educator
00:00

Problem 13

Costs of quality, ethical considerations. Refer to information in Exercise 10-12 in answering this question. Safe Travel has discovered a more serious problem with the plastic core of its car seats. An accident can cause the plastic in some of the seats to crack and break, resulting in serious injuries to the occupant. It is estimated that this problem will affect about 250 car seats in the next year. This problem could be corrected by using a higher quality of plastic that would increase the cost of every car seat produced by $$\$ 25$$. If this problem is not corrected, Safe Travel estimates that out of the 250 accidents, customers will realize that the problem is due to a defect in the seats in only six cases. Safe Travel's legal team has estimated that each of these six accidents would result in a lawsuit that could be settled for about $$\$ 675,000$$. All lawsuits settled would include a confidentiality clause, so Safe Travel's reputation would not be affected.

Oluwadamilola Ameobi
Oluwadamilola Ameobi
Numerade Educator
10:37

Problem 14

Quality improvement, relevant costs, relevant revenues. On Time Print manufactures and sells 23,000 high-technology printing presses each year. The variable and fixed costs of rework and repair are as follows:(TABLE CAN'T COPY)On Time Print's current presses have a quality problem that causes variations in the shade of some colors. Its engineers suggest changing a key component in each press. The new component will cost $$\$ 35$$ more than the old one. In the next year, however, On Time Print expects that with the new component it will (1) save 12,875 hours of rework, (2) save 500 hours of customer support, (3) move 250 fewer loads, (4) save 6,800 hours of warranty repairs, and (5) sell an additional 175 printing presses, for a total contribution margin of $$\$ 1,750,000$$. On Time Print believes that even as it improves quality, it will not be able to save any of the fixed costs of rework or repair. On Time Print uses a 1-year time horizon for this decision because it plans to introduce a new press at the end of the year.

Oluwadamilola Ameobi
Oluwadamilola Ameobi
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Problem 15

Quality improvement, relevant costs, relevant revenues. Keswick Conference Center and Catering is a conference center and restaurant facility that hosts over 300 national and international events each year attended by 50,000 professionals. Due to increased competition and soaring customer expectations, the company has been forced to revisit its quality standards. In the company's 25 -year history, customer demand has never been greater for high-quality products and services. Keswick has the following budgeted fixed and variable costs for 2013:$$
\begin{array}{l|c|c}
\hline & \begin{array}{c}
\text { Total Conference Cen- } \\
\text { ter Fixed Costs }
\end{array} & \begin{array}{c}
\text { Variable Cost per Con- } \\
\text { ference Attendee }
\end{array} \\
\hline \text { Building and facilities } & \$ 4,320,000 & \\
\text { Management salaries } & \$ 1,680,000 & \\
\text { Customer support and service personnel } & & \$ 66 \\
\text { Food and drink } & & \$ 120 \\
\text { Conference materials } & & \$ 42 \\
\text { Incidental productÈ™ and services } & & \$ 18 \\
\hline
\end{array}
$$
The company's budgeted operating income is $$\$ 4,200,000$$.
After conducting a survey of 3,000 conference attendees, the company has learned that its customers would most like to see the following changes in the quality of the company's products and services: (1) more menu options and faster service, (2) more incidental products and services (wireless access in all meeting rooms, computer stations for Internet use, free local calling, etc.), and (3) upscale and cleaner meeting facilities. To satisfy these customer demands, the company would be required to increase fixed costs by $50 \%$ per year and increase variable costs by $$\$ 12$$ per attendee as follows:$$
\begin{array}{lr}
\text { Customer support and service personnel } & \$ 4 \\
\text { Food and drink } & \$ 5 \\
\text { Conference materials } & \$ 0 \\
\text { Incidental products and services } & \$ 3
\end{array}
$$
Keswick believes that the preceding improvements in product and service quality would increase overall conference attendance by $40 \%$.

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Problem 16

Economic order quantity for retailer. Super Shirts (SS) operates a megastore featuring sports merchandise. It uses an EOQ decision model to make inventory decisions. SS is now considering inventory decisions for its Los Angeles Galaxy jackets product line. This is a highly popular item. Data for 2013 are:$$
\begin{array}{lr}
\text { Expected annual demand for Galaxy jackets } & 9,000 \\
\text { Ordering cost per purchase order } & \$ 250 \\
\text { Carrying cost per year } & \$ 8 \text { per jersey }
\end{array}
$$
Each jersey costs Super Shirts $$\$ 50$$ and sells for $$\$ 100$$. The $$\$ 8$$ carrying cost per jersey per year comprises the required return on investment of $$\$ 5.00$$ ( $$10 \% \times \$ 50$$ purchase price) plus $$\$ 3.00$$ in relevant insurance, handling, and theft-related costs. The purchasing lead time is 6 days. SS is open 365 days a year.

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Problem 17

Economic order quantity, effect of parameter changes (continuation of 10-16). Winning Textiles (WT) manufactures the Galaxy jackets that Super Shirts sells. WT has recently installed computer software that enables its customers to conduct "one-stop" purchasing using state-of-the-art Web site technology. SS's ordering cost per purchase order will be $$\$ 40$$ using this new technology.

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Problem 18

EOQ for manufacturer. Turfpro Company produces lawn mowers and purchases 4,500 units of a rotor blade part each year at a cost of $$\$ 30$$ per unit. Turfpro requires a $15 \%$ annual rate of return on investment. In addition, the relevant carrying cost (for insurance, materials handling, breakage, etc.) is $$\$ 3$$ per unit per year. The relevant ordering cost per purchase order is $$\$ 75$$.

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Problem 19

Inventory management. To support its just-in-time production system, Jarvis Sport Cycles (JSC) measures the percentage of employees who are cross-trained to perform a wide variety of production tasks. The internal business process measures are inventory turns and on-time delivery. JSC also measures customer satisfaction. JSC estimates that if it can increase the percentage of cross-trained employees by $5 \%$, the resulting increase in labor productivity will reduce inventory-related costs by $$\$ 200,000$$ per year and shorten delivery times by $10 \%$. The $10 \%$ reduction in delivery times, in turn, is expected to increase customer satisfaction by $5 \%$, and each $1 \%$ increase in customer satisfaction is expected to increase revenues by $2 \%$ due to higher prices.

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Problem 20

JIT production, relevant benefits, relevant costs. The Colonial Hardware Company manufactures specialty brass door handles at its Lynchburg plant. Colonial is considering implementing a JIT production system. The following are the estimated costs and benefits of JIT production:
a. Annual additional tooling costs would be $$\$ 200,000$$.
b. Average inventory would decline by $80 \%$ from the current level of $$\$ 2,000,000$$.
c. Insurance, space, materials-handling, and setup costs, which currently total $$\$ 600,000$$ annually, would decline by $25 \%$.
d. The emphasis on quality inherent in JIT production would reduce rework costs by $30 \%$. Colonial currently incurs $$\$ 400,000$$ in annual rework costs.
e. Improved product quality under JIT production would enable Colonial to raise the price of its product by $$\$ 8$$ per unit. Colonial sells 40,000 units each year.
Colonial's required rate of return on inventory investment is $15 \%$ per year.

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Problem 21

Waiting time, service industry. The registration advisors at a small southwestern university (SSU) help 4,200 students develop each of their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SSU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, first-served basis.

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Problem 22

Waiting time, cost considerations, customer satisfaction. Refer to the information presented in Exercise 10-21. The head of the registration advisors at SSU has decided that the advisors must finish their advising in two weeks and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SSU is considering two alternatives;
a. Hire two more advisors for the 2 -week (10-working day) advising period. This will increase the available number of advisors to 12 and therefore lower the average waiting time.
b. Increase the number of days that the advisors will work during the 2-week registration period to 6 days a week. If SSU increases the number of days worked to six per week, then the 10 advisors need only see 350 students a day to advise all of the students in 2 weeks.

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01:26

Problem 23

Nonfinancial measures of quality, manufacturing cycle efficiency. (CMA, adapted) Prescott Manufacturing evaluates the performance of its production managers based on a variety of factors, including cost, quality, and cycle time. The following are nonfinancial measures for quality and time for 2011 and 2012 for its only product:
(TABLE CAN'T COPY)

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Problem 24

Quality improvement, relevant costs, and relevant revenues.
The Carson Corporation sells 250,000 V262 valves to the automobile and truck industry. Carson has a capacity of 150,000 machine-hours and can produce 2 valves per machine-hour. V262's contribution margin per unit is $$\$ 10$$. Carson sells only 250,000 valves because 50,000 valves ( $20 \%$ of the valves sold) need to be reworked. It takes one machine-hour to rework 2 valves, 5025,000 hours of capacity are used in the rework process. Carson's rework costs are $$\$ 450,000$$. Rework costs consist of the following:
- Direct materials and direct rework labor (variable costs): $$\$ 5$$ per unit
- Fixed costs of equipment, rent, and overhead allocation: $$\$ 4$$ per unit

Carson's process designers have developed a modification that would maintain the speed of the process and ensure $100 \%$ quality and no rework. The new process would cost $$\$ 736,000$$ per year. The following additional information is available:
- The demand for Carson's V262 valves is 320,000 per year.
- The Brady Corporation has asked Carson to supply 17,000 T971 valves (another product) if Carson implements the new design. The contribution margin per T971 valve is $$\$15$$. Carson can make one T971 valve per machine-hour with $100 \%$ quality and no rework.

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Problem 25

Quality improvement, relevant costs, and relevant revenues.
The Harvest Corporation uses multicolor molding to make plastic lamps. The molding operation has a capacity of 100,000 units per year. The demand for lamps is very strong. Harvest will be able to sell whatever output quantities it can produce at $$\$ 50$$ per lamp.

Harvest can start only 100,000 units into production in the molding department because of capacity constraints on the molding machines. If a defective unit is produced at the molding operation, it must be scrapped at a net disposal value of zero. Of the 100,000 units started at the molding operation, 10,000 defective units ( $10 \%$ ) are produced. The cost of a defective unit, based on total (fixed and variable) manufacturing costs incurred up to the molding operation, equals $$\$ 24$$ per unit, as follows:$$
\begin{array}{lr}
\text { Direct materials (variable) } & \$ 12 \text { per unit } \\
\text { Direct manufacturing labor, setup labor, and materials-handling labor (variable) } & 2 \text { per unit } \\
\text { Equipment, rent, and other allocated overhead, including inspection and testing } & \\
\quad \text { costs on scrapped parts (fixed) } & \underline{10} \text { per unit } \\
\text { Total } & \$ 24 \text { per unit }
\end{array}
$$
Harvest's designers have determined that adding a different type of material to the existing direct materials would result in no defective units being produced, but it would increase the variable costs by $$\$ 3$$ per lamp in the molding department.

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Problem 26

Statistical quality control. Harvest Cereals produces a wide variety of breakfast products. The company's three best-selling breakfast cereals are Double Bran Bits, Honey Wheat Squares, and Sugar King Pops. Each box of a particular type of cereal is required to meet pre-determined weight specifications, so that no single box contains more or less cereal than another. The company measures the mean weight per production run to determine if there are variances over or under the company's specified upper- and lower-level control limits. A production run that falls outside of the specified control limit does not meet quality standards and is investigated further by management to determine the cause of the variance. The three Harvest breakfast cereals had the following weight standards and production run data for the month of March:(TABLE CAN'T COPY)

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01:31

Problem 27

EOQ and JIT. Tech Works Corp. produces J-Pods, music players that can download thousands of songs. Tech Works forecasts that demand in 2013 will be $48,000 \mathrm{~J}$-Pods. The variable production cost of each J-Pod is $$\$ 54$$. Due to the large $$\$ 10,000$$ cost per setup, Tech Works plans to produce J-Pods once a month in batches of 4,000 each. The carrying cost of a unit in inventory is $$\$ 17$$ per year.(TABLE CAN'T COPY)

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Problem 28

Depot purchases one model of computer at a wholesale cast of $$\$ 300$$ per unit and resells it to end consumers. The annual demand for the company's product is 600,000 units. Ordering costs are $$\$ 1,200$$ per order and carrying costs are $$\$ 75$$ per computer, including $$\$ 30$$ in the opportunity cost of holding inventory.

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Problem 29

JIT purchasing, relevant benefits, relevant costs. (CMA, adapted) The Greene Corporation is an automotive supplier that uses automatic turning machines to manufacture precision parts from steel bars. Greene's inventory of raw steel averages $$\$ 300,000$$. John Oates, president of Greene, and Helen Gorman, Greene's controller, are concerned about the costs of carrying inventory. The steel supplier is willing to supply steel in smaller lots at no additional charge. Gorman identifies the following effects of adopting a JIT inventory program to virtually eliminate steel inventory:
- Without scheduling any overtime, lost sales due to stockouts would increase by 35,000 units per year. However, by incurring overtime premiums of $$\$ 20,000$$ per year, the increase in lost sales could be reduced to 20,000 units per year. This would be the maximum amount of overtime that would be feasible for Greene.
- Two warehouses currently used for steel bar storage would no longer be needed. Greene rents one warehouse from another company under a cancelable leasing arrangement at an annual cost of $$\$ 45,000$$. The other warehouse is owned by Greene and contains 12,000 square feet. Three-fourths of the space in the owned warehouse could be rented for $$\$ 1.25$$ per square foot per year. Insurance and property tax costs totaling $$\$ 7,000$$ per year would be eliminated.(TABLE CAN'T COPY)

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Problem 30

Supply chain effects on total relevant inventory cost. Peach Computer Co. outsources the production of motherboards for its computers. It is currently deciding which of two suppliers to use: Alpha or Beta. Due to differences in the product failure rates in the two companies, $5 \%$ of motherboards purchased from Alpha will be inspected and $25 \%$ of motherboards purchased from Beta will be inspected. The following data refers to costs associated with Alpha and Beta:(TABLE CAN'T COPY)

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Problem 31

Lean accounting. Reliable Security Devices (RSD) has introduced a just-in-time production process and is considering the adoption of lean accounting principles to support its new production philosophy. The company has two product lines: Mechanical Devices and Electronic Devices. Two individual products are made in each line. Product-line manufacturing overhead costs are traced directly to product lines, and then allocated to the two individual products in each line. The company's traditional cost accounting system allocates all plant-level facility costs and some corporate overhead costs to individual products. The latest accounting report using traditional cost accounting methods included the following information (in thousands of dollars):(TABLE CAN'T COPY)

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Problem 32

Quality improvement, Pareto diagram, cause-and-effect diagram. Pauli's Pizza has recently begun collecting data on the quality of its customer order processing and delivery. Pauli's made 1,800 deliveries during the first quarter of 2013 . The following quality data pertains to first-quarter deliveries:(TABLE CAN'T COPY)

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Problem 33

Quality improvement, relevant costs. The Winchester Corporation makes printed cloth in two departments: weaving and printing. Currently, all product first moves through the weaving department and then through the printing department before it is sold to retail distributors for $$\$ 2,500$$ per roll. Winchester provides the following information:
(TABLE CAN'T COPY)
Winchester can start only 10,000 rolls of cloth in the weaving department because of capacity constraints of the weaving machines. Of the 10,000 rolls of cloth started in the weaving department, $500(5 \%)$ defective rolls are scrapped at zero net disposal value. The good rolls from the weaving department (called gray cloth) are sent to the printing department. Of the 9,500 good rolls started at the printing operation, $950(10 \%)$ defective rolls are scrapped at zero net disposal value. The Winchester Corporation's total monthly sales of printed cloth equal the printing department's output.

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Problem 34

Compensation linked with profitability, waiting time, and quality measures. West Coast Healthcare operates two medical groups, one in Seattle and one in San Francisco. The semi-annual bonus plan for each medical group's president has three components:
a. Profitability performance. Add $0.75 \%$ of operating income.b. Average patient waiting time. Add $$\$ 20,000$$ if the average waiting time for a patient to see a doctor after the scheduled appointment time is less than 10 minutes. If average patient waiting time is more than 10 minutes, add nothing.
c. Patient satisfaction performance. Deduct $$\$ 20,000$$ if patient satisfaction (measured using a survey asking patients about their satisfaction with their doctor and their overall satisfaction with West Coast Healthcare) falls below 65 on a scale from 0 (lowest) to 100 (highest). No additional bonus is awarded for satisfaction scores of 65 or more.

Semi-annual data for 2012 for the Seattle and San Francisco groups are as follows:
(TABLE CAN'T COPY)

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05:22

Problem 35

Waiting times, manufacturing cycle times. The Seawall Corporation uses an injection molding machine to make a plastic product, $\mathrm{Z39}$, after receiving firm orders from its customers. Seawall estimates that it will receive 50 orders for $Z 39$ during the coming year. Each order of $Z 39$ will take 80 hours of machine time. The annual machine capacity is 5,000 hours.(TABLE CAN'T COPY)

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Problem 36

Manufacturing cycle times, relevant revenues, and relevant costs. The Brandt Corporation makes wire harnesses for the aircraft industry only upon receiving firm orders from its customers. Brandt has recently purchased a new machine to make two types of wire harnesses, one for Boeing airplanes (B7) and the other for Airbus Industries airplanes (A3). The annual capacity of the new machine is 6,000 hours. The following information is available for next year:(TABLE CAN'T COPY)

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Problem 37

Ethics and quality. Weston Corporation manufactures auto parts for two leading Japanese automakers. Nancy Evans is the management accountant for one of Weston's largest manufacturing plants. The plant's general manager, Chris Sheldon, has just returned from a meeting at corporate headquarters where quality expectations were outlined for 2013. Chris calls Nancy into his office to relay the corporate quality objective that total quality costs will not exceed $10 \%$ of total revenues by plant under any circumstances. Chris asks Nancy to provide him with a list of options for meeting corporate headquarters's quality objective. The plant's initial budgeted revenues and quality costs for 2013 are as follows:$$
\begin{array}{lr}
\text { Revenue } & 5,100,000 \\
\text { Quality costs } & \\
\text { Testing of purchased materials } & 48,000 \\
\text { Quality control training for production staff } & 7,500 \\
\text { Warranty repairs } & 123,000 \\
\text { Quality design engineering } & 72,000 \\
\text { Customer support } & 55,500 \\
\text { Materials scrap } & 18,000 \\
\text { Product inspection } & 153,000 \\
\text { Engineering redesign of failed parts } & 31,500 \\
\text { Rework of failed parts } & 27,000
\end{array}
$$Prior to receiving the new corporate quality objective, Nancy had collected information for all of the plant's possible options for improving both product quality and costs of quality. She was planning to introduce the idea of reengineering the manufacturing process at a one-time cost of $$\$ 112,500$$, which would decrease product inspection costs by approximately $25 \%$ per year and was expected to reduce warranty repairs and customer support by an estimated $40 \%$ per year. After seeing the new corporate objective, Nancy is reconsidering the reengineering idea.

Nancy returns to her office and crunches the numbers again to look for other aiternatives. She concludes that by increasing the cost of quality control training for production staff by $$\$ 22,500$$ per year, the company would reduce inspection costs by $10 \%$ annually and reduce warranty repairs and customer support costs by $20 \%$ per year, as well. She is leaning toward only presenting this latter option to Chris because this is the only option that meets the new corporate quality objective.

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Problem 38

JIT production, relevant benefits, relevant costs, ethics. Perez Container Corporation is considering implementing a JIT production system. The new system would reduce current average inventory levels of $$\$ 4,000,000$$ by $75 \%$, but it would require a much greater dependency on the company's core suppliers for on-time deliveries and high-quality inputs. The company's operations manager, Jim Ingram, is opposed to the idea of a new JIT system because he is concerned that the new system (a) will be too costly to manage; (b) will result in too many stockouts; and (c) will lead to the layoff of his employees, several of whom are currently managing inventory. He believes that these layoffs will affect the morale of his entire production department. The management accountant, Sue Winston, is in favor of the new system because of its likely cost savings. Jim wants Sue to rework the numbers because he is concerned that top management will give more weight to financial factors and not give due consideration to nonfinancial factors such as employee morale. In addition to the reduction in inventory described previously, Sue has gathered the following information for the upcoming year regarding the JIT system:
- Annual insurance and warehousing costs for inventory would be reduced by $60 \%$ of current budgeted level of $$\$ 700,000$$.
- Payroll expenses for current inventory management staff would be reduced by $15 \%$ of the budgeted total of $$\$ 1,200,000$$.
- Additional annual costs for JIT system implementation and management, including personnel costs, would equal $$\$ 440,000$$.
- The additional number of stockouts under the new JIT system is estimated to be $5 \%$ of the total number of shipments annually. Ten thousand shipments are budgeted for the upcoming year. Each stockout would result in an average additional cost of $$\$ 500$$.
- Perez's required rate of retum on inventory investment is $10 \%$ per year.

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