Compute the labor productivity and the multifactor productivity for each unit. Use an eight-hour day for multifactor productivity.
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The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer. Compute the labor productivity and the multifactor productivity for each unit. Use an eight-hour day for multifactor productivity.
|
Unit |
Workers |
Customers Processed/Days |
|
A |
4 |
36 |
|
B |
5 |
40 |
|
C |
8 |
60 |
|
D |
3 |
20 |
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- The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer.Unit EmployeesCustomersProcessed/DayA 4 36B 5 40C 8 60D 3 20a. Compute the labor productivity and the multifactor productivity for each unit. Use an eighthour day for multifactor productivity.b. Suppose a new, more standardized procedure is to be introduced that will enable each employeeto process one additional customer per day. Compute the expected labor and multifactor productivity rates for each unit.The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer. PLEASE SHOW WORK, SO I CAN UNDERSTAND THE STEPS. Unit Employees Customers Processed/Day A 4 36 B 5 40 C 8 60 D 3 20 Compute the labor productivity for each unit (Unit A, B, C, and D) Use an eight-hour day for multifactor productivity. Compute the multifactor productivity for each unit (Unit A, B, C, and D)The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer.Unit EmployeesCustomersProcessed/DayA 4 36B 5 40C 8 60D 3 20a. Compute the labor productivity and the multifactor productivity for each unit. Use an eighthour day for multifactor productivity.
- Given the following information, calculate the multifactor productivity in terms of revenue per multifactor cost. (In other words, use money in the numerator and denominator.)Units produced: 5,000Standard price: $30/unitLabor input: 500 hoursCost of labor: $25/hourCost of materials: $5,000Cost of overhead: 2x labor costA) State the formulaB) Determine the unit of measure for the numeratorC) Determine the unit of measure for the denominatorD) Calculate ProductivityD) Interpret the resultsLillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.00 per hour Raw Material: 20,000 pounds per day @ $1.00 per pound Energy: $5,250 per day Capital: $10,000 per day a) Labor productivity per labor hour for these tires = 2.502.50 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = 0.02500.0250 tires/dollar (round your response to four decimal places). c) The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs = nothing% (enter your response as a percentage rounded to two decimal places). Note: calculate the new multifactor productivity to four…As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year. Last Year This Year Production (dozens) 1,500 1,500 Labor (hours) 350 325 Capital Investment ($) 15,000 18,000 Energy (BTU) 3000 2700 Labor: $10.00/hr. Capital: 6% per month of Investment Energy: $0.75 per BTU. Determine the labor productivity in labor dollars for last year and this year. Determine the multifactor productivity for last year and this year. Determine the percentage change in productivity for last year versus this year.
- Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: Labor: 425 hours per day @ $ 12.50 per hour Raw Material: 20,000 pounds per day @ $ 1.50 per pound Energy: $ 5,000 per day Capital: $ 10,250 per day a) Labor productivity per labor hour for these tires = enter your response here tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = enter your response here tires/dollar (round your response to four decimal places). c) The percent change in multifactor productivity if Fok can reduce the energy bill by $ 1,000 per day without cutting production or changing any other inputs = enter your response here % (enter your response as a percentage rounded to two decimal places).…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 is shown below. The data are the monthly average of last year and the monthly average this year. Labor: $8 per hour; Capital: 0.843% per month of investment; Energy: $0.60 per BTU. LAST YEAR THIS YEAR Production (dozen) 1,500 1,500 Labor (hours) 350 325 Capital investment ($) 15,000 18,000 Energy (BTU) 3,000 2,700 a) Determine the multifactor productivity with dollars as the common denominator for last year. The multifactor…A work group of 10 workers in a certainmonth produced 7200 units of output working 8hr/day for 22 days in the month. Determine thelabor productivity ratio using (a) units of outputper worker-hour and (b) units of output perworker-month. (c) Suppose that in the nextmonth, the same work group produced 6800units but, there were only 20 workdays in themonth. For each productivity measure in (a)and (b), determine the productivity index forthe next month using the prior month as abase.
- Given the table below compute: Calculate the year-to-date labor productivity Calculate the multifactor productivity This Year Last Year Year Before Last Factory unit sales 2,762,103 2,475,738 2,175,447 Employment (hrs) 112,000 113,000 115,000 Sales of manufactured products ($) $49,363 $40,831 — Total manufacturing cost of sales ($) $39,000 $33,000 —Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.50 per hour Raw Material: 21,000 pounds per day @ $1.00 per pound Energy: $5,000 per day Capital: $10,000 per day a) Labor productivity per labor hour for these tires = 2.52.5 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = 0.02440.0244 tires/dollar (round your response to four decimal places). c) The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs = nothing% (enter your response as a percentage rounded to two decimal places).Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.00 per hour Raw Material: 20,000 pounds per day @ $1.00 per pound Energy: $5,250 per day Capital: $10,000 per day a) Labor productivity per labor hour for these tires = 2.50 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = __ tires/dollar (round your response to four decimal places).