Assignment Help | Identify the three types of costs when quality considerations are made.

You are employed by a firm that produces tangible products. These products are then sold to a consuming populace that is unaffected by place, income, sex, race, age, or any environmental concerns. These products are acquired and used across the spectrum of consumers.

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REQUIREMENTS
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. An originality report is provided when you submit your task that can be used as a guide.

You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.

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Prepare a memo (suggested length of 3 pages) to your supervisor that addresses the following:

A. Identify the three types of costs when quality considerations are made.

B. Explain each of these types of costs using examples.

C. Evaluate the three types of costs considering the trade-offs within manufacturing a product and/or producing a service.

D. Acknowledge sources, using APA-formatted in-text citations and references, for content that is quoted, paraphrased, or summarized.

E. Demonstrate professional communication in the content and presentation of your submission.

MODEL ANSWER

MEMO

To: Supervisor

From:

Date:

Re: Types of Cost

            When quality considerations regarding products are made, there are three types of costs involved, and they comprise prevention costs, appraisal costs, and failure costs (Farooq et al., 2017).

           Appraisal cost, for instance, is that which relates to the inspection of product quality and testing, as well as other activities, which are meant to uncover or detect defects on | PLACE YOUR ORDER NOW AT writtask.com | cost is meant to ensure that the product is perfect without defect, and capable of meeting the wants and needs of consumers | PLACE YOUR ORDER NOW AT writtask.com | of this cost is lab tests and quality audits, including | PLACE YOUR ORDER NOW AT writtask.com | are those attributed to the product defects, for example, the costs paid to the engineers to ensure product quality is | PLACE YOUR ORDER NOW AT writtask.com | costs are attributed to the wrong machine setting, carelessness, and defective materials or equipment.

           Considering the trade-offs, prevention comprises money paid to engineers that guarantee product quality from the beginning of the project as it is cheaper to pay engineers at | PLACE YOUR ORDER NOW AT writtask.com | is worth paying for the cost since it is cheaper to pay engineers the first time compared to doing it after to completely get rid of the defects in the product and start afresh.

           Appraisal costs involve a process of inspection, as well as an audit that is adopted in maintaining and ensuring the product quality is | PLACE YOUR ORDER NOW AT writtask.com | more cost-effective to have a lot of audits and quality inspections conducted to make sure the products are not defective | PLACE YOUR ORDER NOW AT writtask.com | of sales that are lost because of bad public relations following defective products is more expensive compared to making corrections early.

           Lastly, failure costs are external and | PLACE YOUR ORDER NOW AT writtask.com | costs are not cost-effective, which means production time can never be recovered, thus resources are effectively spent to ensure the product is free of defects compared to conducting | PLACE YOUR ORDER NOW AT writtask.com | also not worth costing the company its image and reputation, which means it is cost-effective and beneficial to guarantee product quality.

References

Farooq, M. A., Kirchain, R., Novoa, H., & Araujo, A. (2017). Cost of quality: Evaluating cost-quality trade-offs for inspection strategies of manufacturing processes. International Journal of Production Economics, 188, 156-166.

Khozein, A., Mohammadi, J. & Zarmehri, M. A. (2013). Cost of quality and quality optimization in manufacturing. European Online Journal of Natural and Social Sciences, 2(3), 1070-1081.