According to the enotes, if a company does not have a current supplier for a part, they must issue a Request for quotation (RFQ) so their potential supplier can provide a detailed quote that might include more than just a per unit price, it may also include delivery date, and payment terms. This quote invites suppliers into a bidding process to bid on specific products or services. However, it is only the first step in a negotiation with a supplier.
The economist's analysis in the scenario painted above incorporates the idea of OPPORTUNITY COST.
Opportunity cost refers to a value or a benefit which must be given up in order to enjoy or acquire another benefit. Because resources are scarce, one always has to make decision about how to use one's resources efficiently. In the scenario given above, Joe had the opportunity to put his money in a fixed deposit account or to use it to buy gold coins; he choose the latter given up the former. Thus, the former, which he gave up is his opportunity cost.<span />
Answer: problem-solving teams
Explanation: group of individuals assembled to work on a project that involves resolving one or more issues that have already arisen or to deal effectively with issues as they arise. In a business context, a problem solving team will typically be formed for a limited time frame incorporating staff from different organizational levels with various relevant skill sets.Problem Solving Teams are temporary structures that bring together leaders and team members from across the organization to focus on solving a specific problem. The benefits are many, including not just a solved problem, but also a more resilient organization, a stronger social network and a growing cohort of problem solvers with increased skills and abilities. This approach draws from many influences, including complexity science, social network theory, military doctrine, flight crews, and emergency responders. We have been experimenting with this approach across several areas that involve multiple geographies and multiple functions.
Answer:
$65 per unit
Explanation:
For computing the cost per unit first we have to determine the cost of goods manufactured which is shown below:
Cost of goods manufactured = Opening work in process + direct material cost + direct labor cost + manufacturing overhead cost - ending work in process
= $10,000 + $12,000 + $6,000 + $4,000 - $6,000
= $26,000
And, there is a production of 400 MP3 players
So, the cost per unit is
= $26,000 ÷ 400 MP3 players
= $65 per unit
Answer:
Yanta Co. has a higher exposure to exchange rate risk than Diz Co.
The reason is that Yanta Co. does not have net inflows of euros. Instead, its euro transactions yield net outflows.
It will always be in need of euros to settle its foreign debts or obligations, unlike Diz Co. with foreign assets.
Explanation:
a) Data and Analysis:
Diz Co. has net cash inflows of euros and net cash inflows of swiss francs
Yanta Co. has net cash outflows of euros and net cash inflows of swiss francs
b) Exposure to exchange rate risk or currency risk is the financial risk arising from fluctuations in the value of the US dollars against the Euro or Swiss Francs in which Diz Co. has some foreign assets while Yanta Co. has foreign obligations.
