The Cost of Quality and Accounting for Production Losses
Chapter 7 THE COST OF QUALITY AND
ACCOUNTING FOR PRODUCTION LOSSES
Question Nos. 16, 17, 22, and 23 are AICPA adapted.
Question No. 24 is CIA adapted.
The quality costs that a
to incorporate the
to different foods and
Urge to serve
customers with high
quality of soya treats.
Enhancement of a good
Aquino, Rosemarie T.
Lleva, Christian B.
Mabansag, Mairi Kris M.
Reano, Camille D.
Tigas, Aibelle V.
Mrs. Elisa Tejo Diaz
Products: (1) Taho
(2) Soya Milk
(4) Soya Curd
Capacity: 50-60 liters/day
Question Nos. 1, 7-12, 18-23, and 28-32 are AICPA adapted.
An equivalent unit of material or conversion cost is equal to:
the prime cost
the amount of material or conversion cost neces
Part I Concepts
Instruction: Shade the letter that corresponds to your answer. Use the answer sheet above.
1. Which of these statements are pertinent to cost of capital?
1. It is the return that investors demand for a given level of risk.
2. It may be emp
Chapter 8 Stock Valuation
Chapter 08 Quiz A Student Name _
Student ID _
To trade securities on the floor of the NYSE, exchange members must purchase a:
c. dealer spot.
d. trading license.
You would like to earn a 9.5 percent ra
JUNIOR PHILIPPINE INSTITUTE OF ACCOUNTANTS
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For the Federation Year 2016-2017
CERTIFICATE OF CANDIDACY
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II. Personal Information
Name: Echiverri, Kevin Loverte O.
0905-236-2015 | [email protected]
A passionate student of
Creative. Theater actor.
Chorale member. Orator.
Writer. Essayist. Designer.
Follower of Christ. Leader.
marked with justice and equity. The HRM experienced full in mediaeval
India due to foreign aggressions over the next 700 years. During the
Mughal rule, Karkhanas were established, but the artisans and
craftsmen were poor and lived on starvation level and
as a Discriminator : A human resource administrator must have the
capacity to discriminate 16 between right and wrong, between that
which is just and unjust and merit and non-merit. In other words, he
should be a good judge when he sits on a selection boa
depending upon the work-load and requirements of the departments.
While allocating manpower to different departments, care has to be
taken to consider appointments based on promotions and transfers.
Allocation of human resource should be so planned that a
merely involved in the office routine whereby the status quo is
maintained. He should have the inquisitiveness to find out causes of
delay, tardy work and wasteful practices, and should be keen to
eliminate those activities from the personnel functions wh
Resource Planning at macrolevel would encompass all these and other
concerns, dealing with both the supply and the demand side of the
problems. It should cover not only quantitative aspects, but also
qualitative factors. The objectives of Human Resource P
ponder on the social obligations of the enterprise, especially if it is in
the public sector, where one has to work within the framework of social
accountability. He should be in close touch 17 with socio-economic
changes in the country. He should be able
may find themselves obsolete in the future due to changes in
environment if they do not update themselves some of the important
challenges which might be faced by the managers in the management
of people in business and industry are discussed below : 1. I
discourage seeing positions as someones territory which causes selfprotective conformity. (x) Forster more cross-functional teamwork for
self-development. 15 (xi) Eliminate the culture of valuing positions as
career goals in favour of portraying a career
personnel requirements, personnel programmes, policies etc. After
determining how many and what type of people are required, a
personnel manager has to devise ways and means to motivate them. 2.
Organisation : Under organisation, the human resource manage
the changes coming in the wake of advanced technology, new jobs are
created and many old jobs become redundant. There is a general
apprehension of immediate unemployment. In the competitive world of
today, industry cannot hope to survive for long with old
function performed properly. A personnel manager guides and
motivates the staff of the organisation to follow the path laid down in
advance. 4. Controlling : It provides basic data for establishing
standards, makes job analysis and performance appraisal,
Calcutta (1905), Postal Union, Bombay (1907) and Madras Labour Union
(1918). The union movement was very weak till the early thirties. But
the situation showed marked improvement 5 years before and after the
Second World War. After independence, the activ
in successive five-year economic plans. The prime concern, throughout,
has been to find a solution to the problem of unemployment and the
poverty that goes with it. The key issues involved relate to questions on
the rate and pattern of growth. A data base
activity itself. Because of the following reasons human resource
management holds a place of importance. 1. It helps management in
the preparation adoption and continuing evolution of personnel
programmes and policies. 8 2. It supplies skilled workers thr
for their efficient performance and growth. (iv) Appraisal of
performance of employees and taking corrective steps such as transfer
from one job to another. (v) Motivation of workforce by providing
financial incentives and avenues of promotion. (vi) Remun
effective utilisation of human and others material resources is
necessary. Legacy of HRM : The legacy of HRM needs to be analysed
from two different perspectives to get a better insight into its nature.
These are (a) the Western context (b) the Indian con
the organisation. TYPES OF HUMAN RESOURCE PLANNING In most
developing countries the development of human resources has been
regarded as one amongst many objectives of long-term economic
growth. As a result even the objectives of economic planning and the
negligence of positive incentives. 9 The slavery structure was replaced
by seldom, were neither slaves nor hired labourers. The structure was
related to rural and agrarian pursuits. Workers were offered positive
incentives which resulted in enhanced produ
System : In the past, the automation of manufacturing processes had a
major effect upon the systems of production, storage, handling and
packaging, etc. More recently, there has been and in the future there
will be the impact of revolutionary computerised
emerging aspirations and requirements of the company and the
individual. These changes, which are taking place, involve more
commitment of the organisation to the development of people by
improving performance and cutting costs. As a result of this, the
old. The first reference of HRM was provided by Kautilya as early as 4th
century B.C. in his book Arthashastra. The work environment had
logical procedures and principles in respect of labour organisation such
as Shreni Wages were paid in terms of quantit