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WOODY’S WIDGET SHOP HAS THE FOLLOWING INFORMATION: THE AVERAGE WIDGET HAS A SALES PRICE OF $18; RAW MATERIALS FOR THE WIDGET ARE $4; IT TAKES 30 MINUTES TO ASSEMBLE ONE WIDGET; AND PRODUCTION LABOR – BUSINESS & FINANCE

Woody’s widget shop has the following information: The average widget has a sales price of $18; raw materials for the widget are $4; it takes 30 minutes to assemble one widget; and production labor is paid $8 per hour. Operating expenses are as follow: salaries,...