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Use the following table to answer the question. At an output level of 4, the average variable cost is $____.
T-Accounts
A graphical representation used in accounting to depict accounts, showing debits on the left and credits on the right.
Direct Materials Cost
The expense associated with raw materials and components directly involved in producing a product.
Raw Materials
The fundamental elements and parts employed during manufacturing to create final products.
Manufacturing Overhead
Indirect factory-related costs that are incurred when a product is manufactured, including costs such as rent, utilities, and maintenance.
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