Answered: The RitePak company produces packing…

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

1. The RitePak company produces packing boxes for the food industry.

Old production system allowed the company to make 600 boxes per day (in one 8-hour shift). The company has recently introduced a new production system and conducted appropriate job training, so that production levels have increased to 750 boxes per day (in one 8-hour shift). Labor costs remain the same and average $120 per day for each of the 5 full-time workers. Capital costs were previously $3,000 per day, and increased to $3,200 per day with the new equipment. Energy costs were unchanged at $700 per day.

Please compute the firm’s labor productivity and multifactor productivity before and after the changes. Write your final answer in the table below.

Show work, and use 2-decimal accuracy when necessary.

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
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