Explanation:
Companies primarily outsource cost reduction. Yet today it is not just a matter of reducing costs but also of taking advantage of the advantages of practice for outsourcing, such as gaining professional skills, minimizing turnover, agile personnel and improving efficiency.
For many businesses, outsourcing — using external companies to handle the job usually done within a company— is a familiar concept. Small businesses often outsource manufacturing, billing, marketing, and many others because they have no choices. Most big firms outsource production to raise.
More broadly, outsourcing risks are usually covered by four broad categories: loss of control; loss of innovation; loss of trust in organizations; and higher transaction costs than expected.
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 8,760 units.
Explanation:
a) Data and Calculations:
Units Conversion
Ending inventory 1,560
Units completed 8,370
Units available 9,930
Beginning inventory 1,470 35%
Additional units started 8,460
Equivalent units of production:
Units completed 8,370 8,370 (100%)
Ending inventory 1,560 390 (25%)
Equivalent units of production 8,760
Answer:
The primary difference between product markets and factor markets is that:
Product markets are markets related to products, goods, tangible finished items. This is where you'll get your product for sale and where people will buy it.
while
Factor markets are for the factors of production, mostly intangible, like labor, capital and entrepreneurial skills. This is what you'll use (including raw materials) to make your product.
