Response to the following problem:
Corey Rimmel, Adam Hendin, and David Melnick of Hot Box Cookies must understand manufacturing costs to effectively operate and succeed as a profitable and efficient business.
Required:
1. What are the three main categories of manufacturing costs the owners must monitor and control? Provide examples of each.
2. How can the owners make Hot Box Cookies' manufacturing process more cost-effective? Provide examples of two useful managerial measures of time and efficiency.
3. What are four goals of a total quality management process? How can Hot Box Cookies use TQM to improve its business activities?