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Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information, the marginal product of the third worker is
Actual Results
The actual outcomes or figures achieved, compared against forecasts or budgeted amounts.
Raw Materials Price Variance
The difference between the actual cost and the standard cost of raw materials used in production, reflecting price fluctuations.
Standard Cost System
An accounting system that uses predetermined costs for products or services to compare against actual costs for performance evaluation.
Actual Results
The real outcomes or final figures that have been achieved by a business after a specific period, which can be compared against forecasts or budgets.
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