The Change in Total Output Associated with One Additional Unit

question 109

Multiple Choice

The change in total output associated with one additional unit of input is the

• A)Opportunity cost of the output.
• B)Average productivity.
• C)Marginal physical product.
• D)Marginal cost.

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Definitions:

Variances Reports

Financial reports that compare actual financial results to the budgeted or standard costs, highlighting deviations.

Promptness

The quality of acting quickly or within an expected timeframe.

Variable Overhead Rate

A metric that represents the variable costs incurred to operate a business, changing with the level of production or activity.

Fixed Overhead Rate

A set rate used to allocate fixed indirect costs of production to individual units or activity bases.