Last Year Now Cost Per Input Unit Unts Produced Labor (hours) Resin (pounds) Capital Invested (S) Energy (BTU) 1,000 1,000 280 255 $10 per hour $6 per pound 1% per month $0.50 per BTU 48 43 9.000 10,000 3.000 2,850 e in productivity for one month last year versus one month this year on a multifactor basis with dolars as the common denominator percentage rounded to two decimal places).
Last Year Now Cost Per Input Unit Unts Produced Labor (hours) Resin (pounds) Capital Invested (S) Energy (BTU) 1,000 1,000 280 255 $10 per hour $6 per pound 1% per month $0.50 per BTU 48 43 9.000 10,000 3.000 2,850 e in productivity for one month last year versus one month this year on a multifactor basis with dolars as the common denominator percentage rounded to two decimal places).
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:George Kyparisis makes bowling bals in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in
determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He
has the following data representing a month from last year and an equivalent month this year:
Last Year
Cost Per Input Unit
Now
Units Produced
Labor (hours)
Resin (pounds)
Capital Invested ($)
Energy (BTU)
1,000
1,000
280
255
$10 per hour
$6 per pound
1% per month
$0.50 per BTU
48
43
9,000
10,000
3,000
2,850
The percent change in productivity for one month last year versus one month this year on a multifactor basis with dollars as the common denominator =% (enter
your response as a percentage rounded to two decimal places).
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