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Managing costs: application of Total Quality management (TQM) The introduction of improved quality into products...

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Accounting

Managing costs: application of Total Quality management (TQM)

The introduction of improved quality into products has been a strategy applied by many organizations to obtain a competitive advantage. Some organizations believe it is necessary to improve levels of product quality if competitive advantage is to be preserved or strengthened.

Please discuss how a management accountant can assist an organization to achieve a competitive advantage by measuring the cost of quality. To answer this requirement, you need to use hypothetical but logical figures depicting costs of quality.

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