rpose of Assignment Part A: Since the United States does so much importing you need to know how to cost your product accurately so you do not loose your profit by not calculating all the costs associated with importing your product. It is essential to understand how to create a cost sheet that has your product being imported so that you do not loose your profit and can make a profit! Purpose of Assignment Part B: Correctly estimating your Lead Time Schedule will prevent late delivery and potential resulting financial consequences A. Importing Cost Sheets: Overseas/ Central America/ Mexico, etc., : 1. Create a Cost Sheet that reflects the cost that your company will incur due to importing your product. 2. Cost Sheet will include all the fees that a. Your company has incurred as a result of the INCO Term you selected to produce and transport your product to the United States. b. The costs of the required Documentation and Certifications by U.S. Customs that you are required to pay to clear U.S. Customs legally and correctly. c. The Duty Rate that your product is classified under the Harmonized Tariff Schedule of the United Sates ( HTSUS). 1. Calculate this Duty Rate/Tariff based on the percentage calculated individually for one unit of your product. Example: if your Duty Rate/ Tariff is 10% ( example remember) and you are importing a t-shirt that costs you $2.00 to produce in China, your Cost Sheet will reflect an additional cost of 10% of $2.00 which equals 20 cents for each t-shirt 20 cents will be added to what It will cost to make your t-shirt. ....your wholesale price will now have an additional 20 cents added to it. ( continued next page)