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A company has made some efforts in improving productivity and it would like to know if it is maintaining an average of 5% increase in productivity. The data below represents year one and year two.

A company has made some efforts in improving productivity and it would like to know if it is maintaining an average of 5% increase in productivity. The data below represents year one and year two.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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A company has made some efforts in improving productivity and it would like to know if it is maintaining an average of 5% increase in productivity. The data below represents year one and year two. Units Produced Labor (hours) Material (lbs) Energy (BTU) Last Year 2,000 500 90 8,000 This Year 2,500 600 120 9,000 Calculate the productivity change for each resource. Determine the overall productivity with dollars common denominator. The cost data for last year is: labor $14/hour, material $16/pound, energy $0.65/BTU, and for this year is: labor $16/hour, material $14/pound, energy $0.75/BTU
Transcribed Image Text:A company has made some efforts in improving productivity and it would like to know if it is maintaining an average of 5% increase in productivity. The data below represents year one and year two. Units Produced Labor (hours) Material (lbs) Energy (BTU) Last Year 2,000 500 90 8,000 This Year 2,500 600 120 9,000 Calculate the productivity change for each resource. Determine the overall productivity with dollars common denominator. The cost data for last year is: labor $14/hour, material $16/pound, energy $0.65/BTU, and for this year is: labor $16/hour, material $14/pound, energy $0.75/BTU
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