Please answer 1.7 problem solving and show solution.NOTE: 1.6 problem is just a reference as requirement of 1.7 problem. Thanks 1.6 Eric Johnson makes billiard bails in his New Englandplant. With recent increases in his costs, he has a newfound interestin efficiency. Eric is interested in deterrnining the productivity of hisorganization. He would like to know if his organization is maintain-ing the manufacturing average of 3% increase in productivity. Hehas the following data representing a month from last year and anequivalent month this year:Last YearNow1,000Units producedLabor (hours)Resin (pounds).Capital invested ($)Energy (BTU)1.0002753005010,0003,000: 4511,0002,850Show the productivity percentage change for each category andthen determine the improvement for labor-bours, the typical stan-dard for comparison.1.7 Eric Johnson (using data from Problem 1.6) determineshis costs to be as follows:• Labor:$10 per hour$5 per poundResin:Capital expense:Energy:Show the percent change in productivity for one month last yearversus one month this year, on a multifactor basis with dollars as thecommon denominator. Px1% per month of investment$.50 per BTU.

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1.7 Eric Johnson (using data from Problem 1.6) determines is costs to be as follows: $10 per hour $5 per pound Labor: Resin: Capital expense: Energy: how the percent change in productivity for one month last year ersus one month this year, on a multifactor basis with dollars as the nmmon denominator Par 1% per month of investment $.50 per BTU.

1.7 Eric Johnson (using data from Problem 1.6) determines is costs to be as follows: $10 per hour $5 per pound Labor: Resin: Capital expense: Energy: how the percent change in productivity for one month last year ersus one month this year, on a multifactor basis with dollars as the nmmon denominator Par 1% per month of investment $.50 per BTU.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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