Quality Management

PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

Question

b. Benson Dinka is the management accountant of Dynamic Plc. Mr. Dinka
realises that the present performance reporting system does not highlight
quality costs. The reports contain the information below, but he wants this to
be reported in an appropriate format.
The following information is available in respect of the year ended August 31,
2018

1. Production data:

2. Cost data: Naira

3. Staff training costs amounted to N3,000,000 and product testing costs
were N980,000.
4. The marketing director has estimated that sales of 1,400 units were lost
as a result of bad publicity in trade journals. The average contribution
per heating system unit is estimated at N120,000.
Required:

Prepare a cost of quality report for Dynamic plc. that shows its costs of
quality (using appropriate headings) for the year ended August 31,
2018. (14 Marks)

Answer

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Tags: Cost of Quality, Quality Management, Quality Reporting
Level: Level 2

Topic: Cost Management Strategies
Series: NOV 2019

MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

Question

Total Quality Management (TQM) ensures that all components of an industry work together to improve the quality of its services and products.

Required:
Explain THREE (3) features of Total Quality Management.
(5 marks)

Answer

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Tags: Continuous improvement, Quality Management, TQM
Level: Level 2

Topic: Other Aspects of Performance Measurement
Series: JULY 2023

BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

Question

Quality Management is a prerequisite for every industrial concern. Producing high-quality products as opposed to poor-quality products is a preferred option when it comes to determining demand for goods and services. However, some argue that producing higher-quality output increases costs, as more expensive resources are likely to be required to achieve a higher standard. Others argue that poor-quality output will lead to customer dissatisfaction, which generates costs associated with complaint resolution and loss of revenue as customers move to competitors.

Required:
In reference to the FOUR (4) types of quality cost, explain the costs associated with producing quality products. (10 marks)

Answer

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Tags: Cost Management, Operations Strategy, Production, Quality Management
Level: Level 1

Topic: Operations strategy
Series: MAY 2019

BMIS – Nov 2017 – L1 – Q7b – Operations strategy

b) Quality is the totality of features and characteristics of a product or service which bears on its ability to meet stated or implied needs. Required: i) Distinguish between Quality Management, Quality Assurance, and Quality Control. (6 marks) ii) Outline any TWO of the five general activities involved in quality management systems. (4 marks)

Question

b) Quality is the totality of features and characteristics of a product or service which bears on its ability to meet stated or implied needs.

Required:
i) Distinguish between Quality Management, Quality Assurance, and Quality Control.
(6 marks)

ii) Outline any TWO of the five general activities involved in quality management systems.
(4 marks)

Answer

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Tags: Business Strategy, Operations Management, Quality Assurance, Quality control, Quality Management
Level: Level 1

Topic: Operations strategy
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

Question

a) A strategy is a course of action, including the specification of resources required to achieve a specific objective. Strategy is concerned with the higher direction of an enterprise that involves top management.

As an alternative to a systematic goal-structured approach, an organization may focus on Critical Success Factors (CSFs) to manage strategy. Johnson and Scholes describe SIX stages in the process of managing strategy using CSFs.

Required:
i) What are Critical Success Factors (CSFs)?
(2 marks)

ii) Explain any FOUR of the stages of managing strategy using CSFs.
(8 marks)

Answer

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Tags: Critical Success Factors, CSFs, Quality Assurance, Quality control, Quality Management, Strategy Management
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2017

PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

Question

1. Production data:

2. Cost data: Naira

Prepare a cost of quality report for Dynamic plc. that shows its costs of
quality (using appropriate headings) for the year ended August 31,
2018. (14 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost of Quality, Quality Management, Quality Reporting
Level: Level 2

Topic: Cost Management Strategies
Series: NOV 2019

MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

Question

Total Quality Management (TQM) ensures that all components of an industry work together to improve the quality of its services and products.

Required:
Explain THREE (3) features of Total Quality Management.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Continuous improvement, Quality Management, TQM
Level: Level 2

Topic: Other Aspects of Performance Measurement
Series: JULY 2023

BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

Question

Required:
In reference to the FOUR (4) types of quality cost, explain the costs associated with producing quality products. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Management, Operations Strategy, Production, Quality Management
Level: Level 1

Topic: Operations strategy
Series: MAY 2019

BMIS – Nov 2017 – L1 – Q7b – Operations strategy

b) Quality is the totality of features and characteristics of a product or service which bears on its ability to meet stated or implied needs. Required: i) Distinguish between Quality Management, Quality Assurance, and Quality Control. (6 marks) ii) Outline any TWO of the five general activities involved in quality management systems. (4 marks)

Question

b) Quality is the totality of features and characteristics of a product or service which bears on its ability to meet stated or implied needs.

Required:
i) Distinguish between Quality Management, Quality Assurance, and Quality Control.
(6 marks)

ii) Outline any TWO of the five general activities involved in quality management systems.
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Operations Management, Quality Assurance, Quality control, Quality Management
Level: Level 1

Topic: Operations strategy
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

Question

Required:
i) What are Critical Success Factors (CSFs)?
(2 marks)

ii) Explain any FOUR of the stages of managing strategy using CSFs.
(8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Critical Success Factors, CSFs, Quality Assurance, Quality control, Quality Management, Strategy Management
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2017

Question Tag: Quality Management

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PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

BMIS – Nov 2017 – L1 – Q7b – Operations strategy

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

BMIS – Nov 2017 – L1 – Q7b – Operations strategy

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

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Question Tag: Quality Management

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PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

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MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

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BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

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BMIS – Nov 2017 – L1 – Q7b – Operations strategy

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BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

You're reporting an error for "BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction"

PM – Nov 2019 – L2 – Q6b – Cost Management Strategies

Prepare a cost of quality report for Dynamic Plc for the year ended August 31, 2018.

You're reporting an error for "PM – Nov 2019 – L2 – Q6b – Cost Management Strategies"

MA – July 2023 – L2 – Q2b – Other aspects of performance measurement

This question requires an explanation of three key features of Total Quality Management (TQM).

You're reporting an error for "MA – July 2023 – L2 – Q2b – Other aspects of performance measurement"

BMIS – May 2019 – L1 – Q3b – Operations strategy

Explain the costs associated with producing quality products in reference to the four types of quality cost.

You're reporting an error for "BMIS – May 2019 – L1 – Q3b – Operations strategy"

BMIS – Nov 2017 – L1 – Q7b – Operations strategy

You're reporting an error for "BMIS – Nov 2017 – L1 – Q7b – Operations strategy"

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

You're reporting an error for "BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction"

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