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What is PAF paradigm?
The PAF paradigm is a quality cost strategy which comprises three broad categories: prevention, appraisal, and failure costs.
What are the differences between modern manufacturing and traditional manufacturing system?
Traditional manufacturing basically does not consider quality issue prevention and manufacturing wastage. Modern manufacturing techniques involve implementing schemes such as Kiasen and Lean Six Sigma to control the quality and lower costs.
How is Quality divided?
Quality can be divided into two categories: product quality and process quality
The traditional income statement organizes costs on the basis of cost behavior?
The traditional income statement organizes costs on the basis of cost behavior
What is cost of quality?
Cost of quality is a way for businesses to determine the costs associated with the quality and deficiencies of a product. Investing in higher quality standards can help a company reduce the costs associated with defects.
Which describes the process by which employers must divide their costs into different categories?
Apportionment
What are the two categories of cost comprising conversion cost?
The two categories of cost comprising conversion costs are direct labor and factory overhead
What categories of costs combine to create a firm's total cost?
A firm adds its fixed costs and capable costs to determine its todal cost at each level of output.
What jobs does the actuarial outpost provide?
There are limited traditional categories of jobs that the actuarial outpost provides. They would include insurance and health. The traditional categories are diverse. Examples would be product manager, modeling manager, and data analyst.
What are the three main categories of outputs for quality control?
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What are the different costs involved in quality?
1- Cost attribute to poor quality 2- Cost of attaining quality
Briefly explain what is classification of cost?
Classification of cost is where expenses are divided into categories that include variable costs, fixed costs, material costs. These costs relate to business activities.
