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A satisfied customer is the most important goal of this company" was the opening remark of the corporate president. Alicia Les, at Wonder Tube Company's monthly executive committee meeting. The company manufactures tube products for customers in 16 western states. It has four divisions, each producing a different type of tubing material. Les, a proponent of total quality mangement, was reacting to the latest measures of qulity from the four divisions. The data for the four divisions follow: Brass Division Plastics Division Aluminum Division Cooper Division Company Averages Vendor on time delivery 96.30% 90.50% 97.20% 87.10% 92.61% Production quality rates(deective parts per million) 1300 2600 1200 4300 2400 on time shipments 87.10% 76.30% 89.70% 73.50% 81.65% returned orders 1.00% 4.00% 0.75% 6.00% 3.00% number of customer complaints 20 52 6 58 34 number of warrenty claims 6 11 3 13 9 Why was Les upset? Which division or divisions do not appear to have satisfied customers? What criteria did you use to make your decision?
Troutman Corporation has 7,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to re..
At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $5,000 in cash. Illustrate what is the amount of the taxable gifts, if any, made by Samantha this year?
Describe the difference between contribution margin and gross margin, and illustrate the difference with an example. From a management perspective, indicate which margin figure would be most useful for product pricing and which would be most useful f..
The following summarizes the terms of a lease entered into between Dove Company (lessor) and Hawk Company (lessee) entered into on January 1, 2016: Explain the nature of this lease to Hawk. Prepare all of the necessary accounting entries in 2016 for..
Prepare a list of accounts and their balances for Moonlight Bay at January 31, 2012. Reflect the recurring transactions for the month of January but not the necessary month-end adjustments.
The production report for Matthews, Inc included the following information for May: How many units were started was started during the period?
Which ratios would external users be most interested in? Why? Which ratios would best help internal users manage the business? Why? Beyond the basic financial statements what other information would you want to fully analyze a company's performa..
Cannot pay dividends and all earnings must be retained in the business-Classified certain assets as being restricted which are managed through fund accounting
Using DuPont formula for rate of return on investment, determine profit margin, investment turnover, and rate of return on investment for each division.
Why might sales increase 20% but net income increase only 15%? What might cause the gross profit percent to decline? How would the increase in R&D affect the net income?
Al's Market, a successful neighbourhood convenience store, plans to expand by increasing the floor space of its building. The store is always busy and the parking lot is often full. Al's sells three major product lines: sodas and beer, dairy and fres..
Geneva County authorized the issuance of bonds and contracted with the Chessie Construction Company (CCC) to build a new convention center. During 2013, 2014, and 2015, the county engaged in the transactions that follow. All were recorded in the coun..
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