Summarize Total Quality Management

question 113

Essay

Summarize total quality management.

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Definitions:

Raw Materials Inventory

Stocks of the basic raw materials that are input into a manufacturing process and are waiting to be processed or used.

Ending Balance

The amount of money or value in an account at the end of a financial reporting period, after all additions and subtractions have been accounted for.

Cost of Goods Manufactured

The entire cost associated with the production of finished goods within a certain timeframe, encompassing expenses for labor, materials, and overhead.

Ending Balance

The ending balance is the final amount in an account at the conclusion of a period after all debits and credits have been accounted for.