The Following Table Shows the Total Output Per Hour Produced

question 16

Multiple Choice

The following table shows the total output per hour produced in a factory at various levels of employment of labor. The firm sells each unit of output at $2 and each worker is paid a wage of $12.
Table 5-1
$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Nurnber of } \\\text { workers }\end{array} & \text { Total output } \\\hline 1 & 8 \\\hline 2 & 18 \\\hline 3 & 30 \\\hline 4 & 41 \\\hline 5 & 50 \\\hline 6 & 55 \\\hline 7 & 59 \\\hline 8 & 61 \\\hline 9 & 62 \\\hline\end{array}$
-Refer to Table 5-1. What is the total revenue that accrues to the firm when it employs 4 workers?

• A) $36
• B) $112
• C) $100
• D) $60
• E) $82

Calculate equivalent units for conversion and materials using the FIFO and average cost methods.

Distinguish between job order costing and process costing systems and understand the types of businesses that typically use each.

Explain the concept of equivalent units in process costing and provide examples of its application.

Explore the use of manufacturing cells in lean production processes to improve efficiency.

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Definitions:

Accomplish Objectives

Successfully achieving set goals or targets through planned actions.

Neglecting Satisfaction

The state of disregarding or ignoring the contentment and fulfillment derived from an activity or job.

Excessive Hours

Working time that significantly surpasses normal or legally permitted hours, potentially leading to health risks or work-life imbalance.

Emotional Intelligence

The ability to accurately perceive emotions, to understand the signals that emotions send about relationships, and to manage your own and others’ emotions.