Answered: LAST YEAR THIS YEAR Production (dozen)…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

As part of a study for the Department of LaborStatistics, you are assigned the task of evaluating the improvement
in productivity of small businesses. Data for one of thesmall
businesses you are to evaluate are shown at right. The data
are
the monthly average of last year and the monthly average this
year.
Determine the multifactor productivity with dollars as the
common
denominator for:

a) Last year.
b) This year.
c) Then determine the percent change in productivity for the monthly average last year versus the monthly average this year
on a multifactor basis.
◆ Labor: $8 per hour
◆ Capital: 0.83% per month of investment
◆ Energy: $0.60 per BTU

LAST YEAR
THIS YEAR
Production (dazen)
1,500
1,500
Labor (hours)
350
325
Capital investment (5)
15,000
18,000
Energy (BTU)
3,000
2,700

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