How does diminishing marginal product affect the shape of the production function? a. The slope of the production function increases as the quantity of input increases. b. The slope of the production function becomes more positive with diminishing marginal product. c. The slope of the production function becomes horizontal once diminishing marginal product is achieved. d. The slope of the production function decreases as the quantity of input increases. e. The slope of the production function is not affected by diminishing marginal product.

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: