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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
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 lost. 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. Finn Corporation Finn Corporation produces inflatable rafts for recreational use. The company has heard about lean accounting, and is anxious to find out more about the system, to determine whether it will help streamline their operations and cut costs. The company has hired you as a consultant to help them implement their lean accounting program, and also to assist with recreating some data lost in a recent computer mishap. 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 I and Chart of Accounts II, and then answer the following question. Which chart of accounts should Finn Corporation most likely implement if they want to use lean accounting principles? Cost of Quality Report This year, Finn Corporation implemented programs designed to assess the costs of quality for the company. However, the company recently suffered a data 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 lost
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