Opman inc. offers executive training courses on a number of operations management topics. it is presently bidding on a three-year contract for a training course on supply chain management. training will be provided bimonthly (i. e., twice each month) for the duration of the contract. currently, opman does not have internal expertise in this area. in order to provide the training, should it win the contract, opman is considering (1) hiring a full-time person to do the training or (2) contracting out to an independent consultant. a full-time person will cost opman $80,000 for the first year, with a 10% annual adjustment for inflation and salary increases. an outside consultant, on the other hand, will charge $5,000 for a one-time preparation fee and $2,000 each time the training is given.
1. based solely on cost argument, which option should opman choose? show your work.
2. what non-cost factors should be considered? identify at least two such factors

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.

Do it! review 16-3 the assembly department for right pens has the following production data for the current month. beginning work in process units transferred out ending work in process 0 22,500 16,000 materials are entered at the beginning of the process. the ending work in process units are 70% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs. materials conversion costs the equivalent units of production