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Albertos Burgendorf Christiansen Del Rio Quoted Piece Cost \$0.434 \$0.351 50.373 60.412 Material Cost/Unit412 Material Cost/Unit\$0.303 \$0.269 \$0.283 \$0.326 Resin Cost/Pound \$0.351 \$0.332 \$0.343 \$0.362 Part Weight (Ounces) 12 12 1212 Resin Cost/Part \$0.26 \$0.25 \$0.26 \$0.27 Scrap Cost \$0.040 \$0.020 \$0.026 \$0.055 Labor C Based on the spreadsheet, this is what’s needed: 1. For the material cost, focus on calculating material waste/scrap. Given the part weight and unit material cost, you can calculate the should-be part material cost should there be no waste. The difference between the should-be and the quoted part material costs can be explained by material waste/scrap.2. For the labor cost, focus on calculating the labor productivity (parts per labor hour). The quoted labor cost/unit includes both direct and indirect labor costs. An indirect-direct ratio of 1.5, for example, means that for every \$1 of direct labor cost, there is \$1.5 of indirect labor cost. Using the indirect-direct ratio, you can calculate the direct labor cost per part. You can then calculate the labor productivity with the direct labor cost per part and the hourly wage rate. For example, if the hourly wage is \$10 and each part contains \$0.1 worth of direct labor, you know 100 parts are produced each labor-hour. There is no need to consider batching or shifts because they all boil down to the provided labor cost/unit.3. For the production cost, focus on calculating the production error/overhead (wasted machine time). You have calculated the labor productivity (parts per hour). Using that and the machine cost (\$ per hour), you can calculate the production cost if there is production error/overhead. For example, if the productivity is 100 parts per hour and the machine cost is \$50 per hour, you know the production cost should be \$0.5 per part. The difference between the should-be and the quoted production costs can be explained by production error/overhead. There is no need to consider batching or shifts because they all boil down to the provided production cost/unit.4. For the tooling cost, simply divide the total tooling cost by the total production quantity when a supplier meets only North America, only Europe, and both markets’ demands.5. For the total per unit cost, sum up the quoted total variable cost and the average tooling costs per unit in the three different scenarios from step 4. You may notice that you are not using your calculations in steps 1-3; this is fine. Engineering & Technology Industrial Engineering Supply Chain Management This question was created from Whirlpool_Final_K.xlsx