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) Sales price (per bolt) Sales revenue $2,240,000 Manufacturing overhead $ 500,000 Total factor productivity 2.00 $32 $ 165 Total labor costs $ 130,000 Required: Determine the partial fabric (materials) productivity. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
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) Sales price (per bolt) Sales revenue $2,240,000 Manufacturing overhead $ 500,000 Total factor productivity 2.00 $32 $ 165 Total labor costs $ 130,000 Required: Determine the partial fabric (materials) productivity. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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