Explain how efficiency and price or rate variances

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Question: We have all seen on the news how outsourcing a component of a product (like airbags for cars produced by other unrelated companies) can impact a business.

First, identify a product recall that resulted from outsourcing a component of your finished product.
Next, discuss what controls you would put in place to deter this from happening in the future.
Should the possibility of a recall be taken into consideration when engaging in the make or buy analysis? If so, how would you do it?
Explain how efficiency and price or rate variances for direct labor can be closely related.
How can operating at 100% of capacity creates unfavorable variances.
Would a production manager be equally responsible for unfavorable materials price variances and unfavorable materials quantity variances? Explain.
Identify what is wrong with this statement; "There are three basic kinds of cost accounting systems: job order, process, and standard".
What is the origin of DuPont system and how it is used to evaluate business performance?
How the Balanced scorecard is used to evaluate and reward business performance? Do you have real life examples?
Identify the explain the components of management compensation and the trade-off that compensation designs make.

Reference no: EM133337247

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