Problem 18-58 (Algo) Productivity Measures (LO 18-6)As the cost accounting manager at Cambria Chemicals (CC). you are responsible for compiling and reporting various performancemeasures to the senior managers. The company instituted many efficiency improvement programs recently, and the CFO has askedyou to measure and report partial productivity for both labor and materlals. Data for the last two years follow.Year 2Year 1Gallons input (thousands)Labor-hours (thousands)Gallons of output (thousands)10,0009,20011,8009,0006,8009,800From the accounting records, you also gather the following Information for the two years.Year 2Year 1Cost of inputs (per gallon)Wage rate (per hour)Total manufacturing overheadSelling price of output (per gallon)84$.9017$1,170, 00037523$1,360,000.370Required:a. Compute the total factor productivity measures for year 1 and year 2 based on the three inputs (material, labor, and overhead).(Round your answers to 3 declmal places.)Year 2Year 1Total factor productivity

Factor Productivity: It is a way to measure the efficiency of the company to convert the input into output in the required period of time.Calculation of total factor productivity: The above result is: Total Factor Productivity for year 1 is $1.754. Total Factor Productivity for year 2 is $1.810.

Business

Accounting

As the cost accounting manager at Cambria Chemicals (CC), you are responsible for compiling and reporting various performance measures to the senior managers. The company instituted many efficiency improvement programs recently, and the CFO has asked you to measure and report partial productivity for both labor and materials. Data for the last two years follow. Year 2 Year 1 Gallons input (thousands) Labor -hours (thousands) Gallons of output (thousands) 10, 000 9, 200 9, 000 6, 800 11,800 9, 800 From the accounting records, you also gather the following information for the two years. Year 2 Year 1 Cost of inputs (per gallon) wage rate (per hour) Total manufacturing overhead selling price of output (per gallon) $4 %24 24 84 90 %2$ 23 17 $1, 360, 000 $4 $1, 170, 000 $4 370 375 Required: a. Compute the total factor productivity measures for year 1 and year 2 based on the three inputs (material, labor, and overhead). (Round your answers to 3 decimal places.) Year 2 Year 1 Total factor productivity

As the cost accounting manager at Cambria Chemicals (CC), you are responsible for compiling and reporting various performance measures to the senior managers. The company instituted many efficiency improvement programs recently, and the CFO has asked you to measure and report partial productivity for both labor and materials. Data for the last two years follow. Year 2 Year 1 Gallons input (thousands) Labor -hours (thousands) Gallons of output (thousands) 10, 000 9, 200 9, 000 6, 800 11,800 9, 800 From the accounting records, you also gather the following information for the two years. Year 2 Year 1 Cost of inputs (per gallon) wage rate (per hour) Total manufacturing overhead selling price of output (per gallon) $4 %24 24 84 90 %2$ 23 17 $1, 360, 000 $4 $1, 170, 000 $4 370 375 Required: a. Compute the total factor productivity measures for year 1 and year 2 based on the three inputs (material, labor, and overhead). (Round your answers to 3 decimal places.) Year 2 Year 1 Total factor productivity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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