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A company is deciding whether to make a component internally at a cost of $8,000 or buy it externally for $7,000. The annual demand is
A company is deciding whether to make a component internally at a cost of $8,000 or buy it externally for $7,000. The annual demand is 500 units.
- Calculate the total cost of making internally.
- Determine if the company should make or buy based on cost.
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