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.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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
$32
$ 165
$ 2,240,000
Manufacturing overhead $ 500,000
Total factor productivity
2.00
$ 130,000
Total labor costs
Required:
Determine the partial fabric (materials)
productivity.
Note: Do not round intermediate
calculations. Round your final answer to 2
decimal places.
Transcribed Image Text: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 $32 $ 165 $ 2,240,000 Manufacturing overhead $ 500,000 Total factor productivity 2.00 $ 130,000 Total labor costs Required: Determine the partial fabric (materials) productivity. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
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