As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year. Last YearThis YearProduction (dozens)1,5001,500Labor (hours)350325Capital Investment ($)15,00018,000Energy (BTU)30002700 Labor: $10.00/hr. Capital: 6% per month of Investment Energy: $0.75 per BTU. Determine the labor productivity in labor dollars for last year and this year.Determine the multifactor productivity for last year and this year.Determine the percentage change in productivity for last year versus this year.

Find the Given data below: Given details:Last YearThis yearLabor Hours350325Capital…

Answered: As part of the Department of Labor…

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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As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year.

	Last Year	This Year
Production (dozens)	1,500	1,500
Labor (hours)	350	325
Capital Investment ($)	15,000	18,000
Energy (BTU)	3000	2700

Labor: $10.00/hr.
Capital: 6% per month of Investment
Energy: $0.75 per BTU.