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some companies have outsourced jobs to Another Country as they can reduce labor costs that way.
Mina Hyatt
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In order to reduce their labor cost what might a company do?
outsource some jobs to another country
How might a company reduce their labor cost?
Outsource some jobs to another country.
How can you get a copy of your annuity contract?
Contact the insurance company with whom you have the contract by registered, return receipt mail, and request a copy. You might have to pay a fee to cover costs.
What are the important differences between fixed cost and variable costs?
Fixed costs are costs that do not change in total as the number of units increase or decrease. Examples include rent and utilities expense, manager salaries, etc. However, since the total cost does not change, the individual unit cost does change as units increase or decrease. Variable costs are costs that change in total as the number of units increase or decrease. An example might be direct labor, which increases based on number of hours work. However, total unit cost does not change.
Briefly explain why a small engineering companies might use job costing as a preferred method for some of their projects or products?
Job costing: the flow of all costs (direct labor, materials, overhead, etc) are based on the overall job at a given point in time. Process costing: the flow of all costs are based on the various processes and their % complete at a given point in time. Siince engineeering firms are normally project driven (and the project is just one long process) it makes sense to track costs vs. expenses on an hourly basis. Process costing makes better sense for a manufacturing company where there might be several processes from diifferent cost centers (Materials, manufacturing, supply chain, etc) and each are critical to the product's quality and profitability. Some might say that a project is based upon multiple job phases that look suspiciously similar to individual processes, but this is not really the case Allyn
In order to reduce their labor cost what might a company do?
outsource some jobs to another country
Paying an above-equilibrium wage rate might reduce unit labor costs by?
increasing the supply of labor
Why might a company move its production factory from Texas to Mexico?
To take advantage of lower labor costs
How might a company reduce their labor cost?
Outsource some jobs to another country.
How might an automobile company use a management information system to reduce its costs and better serve its customers?
By maintaining the update details and clear Database about the System............
Factors might affect cost of product?
Labor, resources, distribution costs, overhead, and taxes.
What is a labor agent?
A labor agent might be a person who makes sure that a company has enough labor to complete the job at hand. A labor agent might also be a person who deals with a particular union for an industry.
Why might a company move locations?
Cheaper labor cheaper taxes
A socially responisble consumer might boycott a company that uses what?
A socially responsible consumer might boycott a company that uses child labor.
A socially responsible consumer might boycott a company that uses what?
Child labor
How much does the prison system gross?
The 'prison system' is the government operated incarceration system. As such, it is pure overhead and costs lots of taxpayer money, it does not earn money. There may be some ways to reduce costs such as prison labor but in general there is no profit. However, some private companies operate prisons for the government, and those companies make money. But that's no different than a city hiring a company to collect garbage, while the garbage collection company might make a profit, it is still an expense the taxpayers have to fund.
What is the difference between direct labor savings and labor cost avoidance savings from a managerial perspective?
Direct labor savings are savings that a company receives from reducing current labor costs, whereas cost avoidance is savings from an expected increase in expenses. This increase could be due to opportunities driven from direct procurement management and decisions, although the additional expenses might not have been budgeted for directly.
