Ekumfiman ceramic ltd produces ceramic vases for the hotels and supermarket in Ghana. Major customers include shoprite, melcom, holiday inn, airport view and flower people. The output and cost figures for the 4 weeks in April, 2020 are shown in the table below. The cost of labour and materials are GHS 9 an hour and GHS 5 a pound respectively. Weeks 1 2 3 4 Units of out put 3000 5000 6000 8000 Number of workers 5 5 6 7 Materials 320 590 780 1100 Hours per worker per week 50 60 68 80 1. Calculate the labour productivity in hours for each of the 4 weeks. 2. Calculate the total factor productivity for each week. 3. Calculate the total factor productivity for the month .
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Ekumfiman ceramic ltd produces ceramic vases for the hotels and supermarket in Ghana. Major customers include shoprite, melcom, holiday inn, airport view and flower people. The output and cost figures for the 4 weeks in April, 2020 are shown in the table below. The cost of labour and materials are GHS 9 an hour and GHS 5 a pound respectively.
| Weeks | 1 | 2 | 3 | 4 |
| Units of out put | 3000 | 5000 | 6000 | 8000 |
| Number of workers | 5 | 5 | 6 | 7 |
| Materials | 320 | 590 | 780 | 1100 |
| Hours per worker per week | 50 | 60 | 68 | 80 |
1. Calculate the labour productivity in hours for each of the 4 weeks.
2. Calculate the total factor productivity for each week.
3. Calculate the total factor productivity for the month .
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