LAST YEAR THIS YEAR Production (dozen) 1,500 1,500 Labor (hours) 350 325 Capital investment ($) 15,000 18,000 Energy (BTU) 3,000 2,700
LAST YEAR THIS YEAR Production (dozen) 1,500 1,500 Labor (hours) 350 325 Capital investment ($) 15,000 18,000 Energy (BTU) 3,000 2,700
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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Question
| As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for one of the small businesses you are to evaluate are shown at right. The data are the monthly average of last year and the monthly average this year. Determine the multifactor productivity with dollars as the common denominator for: a) Last year. b) This year. c) T hen determine the percentage change in productivity for the monthly average last year versus the monthly average this year on a multi factor basis. + Labor: $8 per hour + Capital: 0.83% per month of investment + Energy: $0.60 per BTU |
Transcribed Image Text:LAST YEAR
THIS YEAR
Production (dozen)
1,500
1,500
Labor (hours)
350
325
Capital investment ($)
15,000
18,000
Energy (BTU)
3,000
2,700
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