Practical Management Science
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ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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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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