Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following:- Fabric price (per bolt): $30.00- Sales price (per bolt): $120.00- Sales revenue: $2,160,000- Manufacturing overhead: $510,000- Total factor productivity: 1.60- Total labor costs: $120,000**Required:**Determine the partial fabric (materials) productivity.[Partial fabric productivity] [ ]

Name: Venice Textiles produces cloth. The inputs are fabric, labor, and ove
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Description: Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following:- Fabric price (per bolt): $30.00- Sales price (per bolt): $120.00- Sales revenue: $

The efficiency of fabric utilization in the production of cloth is measured by partial fabric productivity. It measures the quantity of fabric generated for every unit of input fabric. A higher partial productivity means that the fabric is being used more efficiently, which improves production results as a whole.Computation of the partial productivityTotal factor productivity = (Quantity of output produced) / (Quantity of inputs used)Since we know the total factor productivity and the quantity of labor used, we can find the quantity of fabric used as followsTotal factor productivity = 1.60 = Sales revenue / (Fabric price x quantity of fabric used) x Labor cost / Manufacturing overhead1.60 = 2,160,000 / (30 x quantity of fabric used) x 120,000 / 510,000Solving for the quantity of fabric used:Quantity of fabric used = (2,160,000 / 30) x (510,000 / 120,000) / 1.60 = (72,000 x 4.25) / 1.60 = 306,000 / 1.60 = 191,250Now we can calculate the partial fabric productivity:Partial fabric productivity = Sales revenue / (Fabric price x quantity of fabric used) = 2,160,000 / (30 x 191,250) =2,160,000 / 5,737,500 = 0.3764 Final Answer Hence, the partial productivity is 0.38 (round off)

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Venice Textiles produces cloth. The inputs are fabric, labor, and overhea period show the following: Fabric price (per bolt) Sales price (per bolt) Sales revenue Manufacturing overhead Total factor productivity $ 30.00 $ 120.00 $ 2,160,000 $ 510,000 1.60

Venice Textiles produces cloth. The inputs are fabric, labor, and overhea period show the following: Fabric price (per bolt) Sales price (per bolt) Sales revenue Manufacturing overhead Total factor productivity $ 30.00 $ 120.00 $ 2,160,000 $ 510,000 1.60

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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