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Hunt Corporation is considering spending the following amounts on a new TQM program in 2024:...

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Accounting

Hunt Corporation is considering spending the following amounts on a new TQM program in 2024:
Strength-testing one item from each batch
95,000
Training suppliers in TQM
55,000
Identifying preferred suppliers that commit to on-time delivery of perfect quality materials
30,000
Hunt Corporation expects the new program to save costs in 2024 through the following:
Avoid lost profits from lost sales due to disappointed customers
48,000
Avoid rework and spoilage
50,000
Avoid inspection of raw materials
52,000
Avoid warranty costs
35,000
Requirements
Prepare a cost of quality report in good form. (No percentages are needed)
Should Hunt Corporation implement the new quality program? Provide your reason.
Discuss what costs are traditionally excluded from the quality cost report.
Identify the three types of opportunity costs of not implementing a quality cost program.

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