-In the Above Table, the Average Physical Product of the 3rd

question 232

Multiple Choice

-In the above table, the average physical product of the 3rd worker is

• A) 5.
• B) 4.
• C) 3.
• D) 12.

---

Definitions:

Income Statement

A report detailing a business's earnings, expenditures, and profit during a certain timeframe.

Indirect Labor

Labor costs of employees who assist in the production process but do not directly work on the production of goods or services.

Factory Overhead

Factory overhead refers to the indirect costs associated with manufacturing, including utilities, maintenance, and management salaries.

Indirect Materials

Materials used in the production process that cannot be directly linked to a specific product, such as lubricants for machines.