The Average Product of Labor $$A P _ { L }$$

question 15

Multiple Choice

The average product of labor ( $$A P _ { L }$$ ) is the equal to

• A) total quantity of labor employed divided by the total output.
• B) total amount of output produced divided by price of the output.
• C) the increase in total output.
• D) total amount of output produced divided by the quantity of labor employed.

---

Definitions:

Periodic Inventory System

A system where inventory levels and the cost of goods sold are determined at the end of the accounting period through physical inventory counts.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under previous transactions.

Freight Charges

Fees associated with the transport of goods from one place to another, paid by the sender or receiver.

Recent Goods

Recent goods refer to merchandise or products that have been newly received or produced, often highlighted for their novelty or relevance to current trends.