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Table 115 -Refer to Table 11

question 63

Multiple Choice

Table 11.5
 Units of  Variable  Resource  Total  Product  Product  Price ($) 0022115202291834216454145651267510784889269994101052\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Units of } \\\text { Variable } \\\text { Resource }\end{array} & \begin{array} { c } \text { Total } \\\text { Product }\end{array} & \begin{array} { c } \text { Product } \\\text { Price } ( \$ ) \end{array} \\\hline 0 & 0 & 22 \\\hline 1 & 15 & 20 \\\hline 2 & 29 & 18 \\\hline 3 & 42 & 16 \\\hline 4 & 54 & 14 \\\hline 5 & 65 & 12 \\\hline 6 & 75 & 10 \\\hline 7 & 84 & 8 \\\hline 8 & 92 & 6 \\\hline 9 & 99 & 4 \\\hline 10 & 105 & 2 \\\hline\end{array}
-Refer to Table 11.5,which shows data for a firm.The first column shows the number of variable resource employed in production,the second column shows the total product of the firm,and the third column shows its product price.If the price paid to a resource is $84,then _____ of the resource are employed.

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Definitions:

Factory Overhead

includes all the indirect costs associated with manufacturing, such as utilities, maintenance, and salaries of indirect labor.

Direct Labor

The labor costs directly associated with the manufacturing of a product, including wages of workers physically involved in production.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Direct Materials

The raw materials that are directly traceable to the manufacturing of a product.

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