Original work with 2+ scholarly references with 1500+ words Scenario: I am preparing for a presentation to the board in 2 weeks. I've reviewed the most recent production reports, and I see that we are currently producing an engine part, for example, in South Korea for $110. This cost is much lower compared to the cost of producing the same part in the United States, which is $320 per unit. The disparity might be attributed to the cost of labor, unions, overhead, and operating costs. If we return the manufacturing operations to the United States. Answer the following: - What types of short-term and long-term variable and fixed costs should we consider? - What costs should we expect if we stay in South Korea? What financial risks are the company and the stakeholders exposed to?"
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