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svetlana [45]
3 years ago
14

In the traditional labor model, the amount that an additional worker hired adds to the revenues of the firm is called the _____

of labor. Question 4 options: maximum revenue price marginal factor cost marginal product marginal fractional cost
Business
1 answer:
Aloiza [94]3 years ago
5 0

Answer:

The correct answer is marginal product.

Explanation:

The marginal product of labor is the change in the output or total product because of hiring an additional unit of labor. In other words, the amount that an additional worker adds to the revenue is its marginal product.  

It can be expressed as,

MP_{L} \ =\ \frac{\Delta Y}{\Delta L}

The marginal product of labor depends on the quantity of capital and labor already employed.

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Read 2 more answers
Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces:
Natali [406]

Answer:

Pro Forma Income Statement                                     30,000 units

Sales($90 * 30,000)                                                     $2,700,000

Minus Variable Costs                                                   $1,620,000

  - Direct Material ($18 *30,000)=540,000

 - Direct Labor ($9*30,000) =270,000

 - Overhead cost(12.60*30,000)=378,000

 - Selling and admin (14.40*30,000)=432,000

Contribution                                                                  $1,080,000

minus Fixed Costs                                                        $378,000

- Manufacturing costs = 270,000

 - Selling and admin cost = 108,000

Net Income                                                                   $702,000

FLEXIBLE BUDGET INCOME STATEMENT

                                                        29,000 UNITS          31,000 UNITS

Sales                                             $2,610,000                 $2,790,000

Minus Variable costs                   $1,566,000                 $1,674,000

Direct Material                             $522,000                    $558,000          

Direct labor                                  $261,000                     $279,000

Overhead cost                             $365,400                    $390,600

Selling and Admin cost               $417,600                     $446,400

Contribution                                 $1,044,000                 $1,116,000

Minus Fixed Cost                         $378,000                      $378,000

 - Manufacturing cost                  $270,000                      $270,000

 - Selling and Admin cost            $108,000                      $108,000

Net Income                                   $666,000                     $738,000

Details                                 30,000 Units              31,000 Units  Variance

Sales                                   $2,700,000                $2,790,000   $90,000 F

Direct Material                    $540,000                  $558,000      $18,000 U

Direct Labor                        $270,000                  $279,000      $9,000 U

Overhead cost                   $378,000                   $390,600      $12,000 U

Selling and Admin             $432,000                   $446,400      $14,400 U

Total                                                                                              $36,600 F

Explanation:

4 0
3 years ago
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