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 results
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: 5,000
Standard price: $30/unit
Labor input: 500 hours
Cost of labor: $25/hour
Cost of materials: $5,000
Cost of overhead: 2x labor cost
A) State the formula
B) Determine the unit of measure for the numerator
C) Determine the unit of measure for the denominator
D) Calculate Productivity
D) Interpret the results
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