For my analysis I have chosen a small tortilla factory that is located here in Miami and where I work for a few months. In the time I was there I learned about the production process and the resources that are used in the manufacture of this type of food. The company is called Easy Foods Inc (EFI). They invested in a state-of-the-art facility in South Florida and filled it with new and better production equipment (Easy Foods Inc, 2015). To develop a cost analysis we need to understand the influence of factors such as technology, space, availability of raw materials, human resources and time. Costs that are directly related to the product and increase according to production volumes can be classified as direct costs. In EFI, variable costs constituted an important percentage of the cost structure. In this group we must obviously include the raw material. To make the tortilla, corn flour, wheat flour, water, flavorings, other additional foods and chemical preservatives were needed. In this case, the rules varied in relation to the size of each type of tortilla. Salary expense is a cost that is also variable because the production cycles are measured by volumes / hours. Each employee in the production line added a cost to the product as it went through the different processes, from the preparation of the mixture to the packaging department. Other variable costs that can be mentioned are the depreciation of the machinery. In this case, when equipment is depreciated by units produced, the cost of depreciation can be directly identified with a unit of product. On the other hand, fixed costs do not increase or decrease necessarily with the volume of production. For example: the rent of the premises and the warehouses, the salary of the administrative personnel, the costs of financing, the insurances and other administrative expenses. These elements of expenses are more difficult to standardize because they are not determined by the total tons produced (Hasan, Halid, Ahmad, Hasdiana, & Ilato, 2018) 8 Internal and External Environmental Analysis Internal and External Environmental Analysis Hoosier Media Inc. has noticed a decline in their newspaper circulation and subscriptions, which resulted in a significant drop in revenues over the last five years. While online ad revenues have increased, they only account for 5% of the company’s revenue. The Fletcher Firm has been hired to assess the current strategic operations to assist Hoosier Media Inc. increase their profits. The following analysis will discuss internal and external factors that will help improve Hoosier Media’s business operations. Economic, Legal and Regulatory Forces and Trends It is necessary to consider economic forces when determining reasons for declining revenue and strategizing effective business practices. Consumer behavior is one of the many economic forces that affect businesses today. Consumer spending sets the trends that will either help or hinder Hoosier Media Inc. wit ...