Outsourcing is so sophisticated that even core functions such as engineering, research and development, manufacturing, information technology, and marketing can be moved outside the firm.
The practice of employing a third party from outside a business to carry out tasks or produce commodities that were previously completed in-house by the business's own employees and personnel is known as outsourcing. Companies typically engage in outsourcing as a cost-cutting strategy.
The outside business, often referred to as the network operator or third-party provider, makes arrangements for its own personnel or technological resources to carry out the duties or offer the services either on-site at the premises of the hiring business or at other places.
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Answer:
Option B
Explanation:
Both Nadia and Samantha have insured their cars and willing to pay $100 over the expected loss for insurance. If the car is stolen the company would pay expected loss and would earn nothing and if the car is not stolen the company would not be liable for any loss and would earn $200, Therefore the company would earn between $0 and $200.
The following accounts would appear on a schedule of cost of goods manufactured- Depreciation of factory equipment
Explanation:
<u>The cost of goods manufactured (COGM) schedule</u> is used to calculate the cost of all the items produced during a given reporting period.
<u>The cost of good manufactured schedule</u> gives companies an idea about their production cost(i.e whether it is too high or low) in relation to the sales they are making
<u>The formula to calculate the COGM i</u>s:
Add: Direct Materials Used
Add: Direct Labor Used
Add: Manufacturing Overhead
Add: Beginning Work in Process (WIP) Inventory
Deduct: Ending Work in Process (WIP) Inventory
= COGM
Answer:
Explanation:
There are primarily two types of costs, i.e. variable costs and fixed costs. The variable cost is the cost that varies when the level of production changes, whereas the fixed cost is the cost that remains constant, whether the level of production changes or not.
Therefore, indirect material indirect labor, and factory supplies are included in the variable costs, and the fixed costs include supervision taxes and depreciation expenses.
The mixed cost is a mix combination of both the variable cost and the fixed cost which includes some components of fixed cost and some components of variable cost. It is also known as semi-variable cost
Example - transportation cost, tel communication cost, etc
Salvage is a type of operation that involves methods and operating procedures that are aimed primarily at the reduction of primary and secondary damage incurred during fire suppression activities.
What is fire suppression activity?
All actions are taken to contain and put out a fire after it has been discovered, including immediate attack, sustained attack, limited action, delayed action, and observation and monitoring.
Any fire can be put out by cooling it down, covering it, starving it, or stopping the combustion process altogether. Cooling with water is one of the most typical ways of putting out a fire.
Salvage covers tasks that must be completed in order to avert both direct and indirect fire damage as well as to lessen the impact of firefighting operations. Losses resulting from water, smoke, and firefighting activities are included.
The purpose of Salvage is to lessen the damage caused by a fire's heat, smoke, water, cold, or whether both during and after the fire.
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