Figure 21-8
At the beginning of the year, Grant Company initiated a quality improvement program. The program was successful in reducing scrap and rework costs. To help assess the impact of the quality improvement program, the following data were collected for the current and preceding years:
-Grayson, SA., has developed ideal standards for four activities: labour, materials, inspection, and receiving.
Information is as follows: The actual prices paid per unit of each activity driver were equal to the standard prices.
Required:
Complete the following cost report:

Question

Figure 21-8
At the beginning of the year, Grant Company initiated a quality improvement program. The program was successful in reducing scrap and rework costs. To help assess the impact of the quality improvement program, the following data were collected for the current and preceding years: 
-Grayson, SA., has developed ideal standards for four activities: labour, materials, inspection, and receiving.
Information is as follows:  The actual prices paid per unit of each activity driver were equal to the standard prices.
Required:
Complete the following cost report:

Quizplus · Accepted Answer

The Answer of Figure 21-8
At the beginning of the year, Grant Company initiated a quality improvement program. The program was successful in reducing scrap and rework costs. To help assess the impact of the quality improvement program, the following data were collected for the current and preceding years: 
-Grayson, SA., has developed ideal standards for four activities: labour, materials, inspection, and receiving.
Information is as follows:  The actual prices paid per unit of each activity driver were equal to the standard prices.
Required:
Complete the following cost report:

Figure 21-8 at the Beginning of the Year, Grant Company Initiated a Initiated