Table 12-2 Refer to Table 12-2. This Table Describes the Number of the Number

question 185

Multiple Choice

Table 12-2

Refer to Table 12-2. This table describes the number of baseballs a manufacturer can produce per day with different quantities of labor. Each baseball sells for $5 in a competitive market. For which level of employment is the marginal product of labor greatest?

• A) 1 worker
• B) 2 workers
• C) 3 workers
• D) 4 workers

Distinguish between different types of budgets within a master budget.

Calculate required units for production, direct materials, and labor based on budget information.

Identify the sequence of steps in developing a master budget.

Recognize the role of sales forecasts in budgeting.