4. least-cost rule versus profit maximization marvin’s milk farm produces milk and sells it in a perfectly competitive market at $4 per bottle. the following table shows marvin's weekly total and marginal product schedules, using labor and capital. assume that labor and capital may be used independently; that is, one is not needed for the other factor to be productive. therefore, the total amount of milk that marvin's produces is obtained by adding together the amount of milk produced by labor and the amount of milk produced by capital. the table also shows total revenue and marginal revenue products (mrpmrp) of labor and capital. finally, assume that marvin's milk farm is a factor price taker in the labor and capital markets. labor costs $48 per week, and capital costs $84 per week. labor total product marginal physical product total revenue mrp of labor (number of workers) (bottles) (bottles) (dollars) (dollars) 0 0 1 24 24 96 96 2 42 18 168 72 3 54 12 216 48 4 62 8 248 32

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.