This past year has been an extreme case in variable cost volatility, especially where material costs are concerned. Raw material is subject to very high rates of inflation at the moment, and assembled components are higher priced because of that as well as the compound problem of finding labor. When companies can find workers, they are forced to pay them much higher wages to compete with the governments unemployment supplements. There is a McDonalds in Florida that was giving people $50 just to sit for an interview.

With all of this happening, what do you think it would have taken to be prepared for this crazy year, and how do you think businesses were able to survive?

Answer rating: 100% (QA)

To be prepared for such a year of extreme variable cost volatility businesses would have needed to h... View the full answer