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please explain answers ! Selecting Chart of Accounts The company's accounting intern is new and has confused the Finn Corporation's regular chart of accounts with
please explain answers !
Selecting Chart of Accounts The company's accounting intern is new and has confused the Finn Corporation's regular chart of accounts with the proposed chart of accounts for the lean accounting system Review the charts of accounts on the Chart of Accounts and Chart of Accounts II, and then answer the following question Which chart of accounts thould Finn Corporation most likely implement if they want to use lean accounting principles? Chart of Accounts 1 Chart of Account II Elther Chart of Accounts works equally well Jesigned to assess the costs of quality for the company. However, the company recently suffered a dota loss, and some of its records have been either partially or completely erased. The accounting intern for Finn Corporation has located a copy of a recent cost of quality report, shown as follows, but the quality activity analysis used to create the report has been font Finn Corporation Cost of Quality Report Percent of Total Percent of Quality Cost Classification Quality Cost Quality Cost Total Sales Prevention 5174,460 61% 13.4% Appraisal 48,620 17 3.7 Internal failure 34,320 12 2.6 External failure 28,600 10 2.2 Totals $286,000 100% 22.01% shown as follows, but the quality activity analysis used to create the report has been lost. Finn Corporation Cost of Quality Report Percent of Total Percent or Quality Cost Classification Quality Cost Quality Cost Total Sales Prevention $174,460 61% 13.4% Appraisal 48,620 17 Internal failure 34,320 12 2.6 External failure 28,500 10 22 Totals $286,000 100% 22.0% Quality Activity Analysis As mentioned on the cost of Quality Report, Finn Corporation recently suffered a data loss, and some of its records have been lst. After reviewing the cost of Quality Report, recreate the quality activity analysis in the following table from which the cost of quality report was created. Quality Control Activities Activity Cost Rework 34,320 Inspecting incoming raw materials 34,000 Warranty work 28,600 Process Improvement effort 174,460 Total activity cost $286,000 Step by Step Solution
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