Saved Help Sav Problem 1A-4 Quality Cost Report [LO1-7, L01-8 In response to intensive foreign competition, the management of Florex Company has attempted over the past year tatistical process control system has been installed and other steps have been taken to decrease the amount of warranty and other field costs, which have been trending upward over the past several years. control over the last two years are given below Costs relating to quality and quality Costs (in thousands) ast Year This Year Inspection Quality engineering Depreciation of test equipment Rework labor Statistical process control Cost of field servicing Supplies used in testing Systens development Warranty repairo Net cost of scrap $ 840 1,218 $420 $630 S 630 420 $ 1,260 1,680 0210 1,260 1,092 42 $ 840 840 3,7801,344 420 1,260 $1,0081,260 2,100924 840 840 42 $ Product testing Product recalle Disposal of defective products Sales have been flat over the past few years, at $84,000,000 per year. A great deal of money has been spent in the effort to upgrade quality, and management is anxious to see whether or not the effort has been effective. Required: 1. Prepare a quality cost report that contains data for both this year and last year. (Enter amount values in thoudands. Round your percentage answers to 2 decimal places (.e 0.1234 should be entered as 12.34).)