Companies outsource to save costs or improve the value of their goods. There are several options when deciding whether to outsource a business' operations or production.
The use of outsourcing has increased as a way for businesses to cut expenses and concentrate on what they do best. A business precise known as outsourcing involves a corporation hiring a third party to carry out duties, manage operations, or offer services on their behalf.
Reduce and manage operating expenses. Enhance the company's focus. liberate internal resources for fresh endeavors. Increase output for some time-consuming tasks for which the organization may lack the resources.
The finest examples of outsourcing include website creation, office and warehouse cleaning, and advertising.
To learn more about outsourcing
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Answer:
C. Egoism
Explanation:
Egoism refers to the individual belief whereby self interest is the motivation and goal behind one's action. It has to do with and individual thinking about only himself and what actions he can take to benefit himself alone. Egoism threats self interest as the foundation of morality. But in reality however, egoism is immoral as one possessing such thoughts is not been fair to others. Thus, egoism does not focus on the wellbeing of others. It is all about self interests.
<h2>You made the choice with the lowest "Opportunity cost".</h2>
Explanation:
Opportunity cost in simple terms, can be explained as "You get one by losing the other".
So why this opportunity cost is necessary? Let us understand.
This plays a significant role in "Personal finances". This is the effective part to be learnt to make decisions on finance.
Some of the real life examples are listed below:
- Attending the interview is important than attending an entertainment event
- Only if you spend time and money you can see a movie
"Theorie der gesellschaftlichen Wirtschaft" coined the word "opportunity cost".
Answer:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Explanation:
Giving the following information:
Actual and budgeted fixed overhead $1,092,000
Standard variable overhead rate $27.00 per standard labor hour
Actual variable overhead costs $137,144
We weren't provided with enough information to calculate the direct labor rate variance. But I will provide the formula.
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= actual direct labor costs/total actual hours worked
