Suppose a country's productivity last year was 84. If this country's productivity growth rate of 5% is to be maintained, this means that this year's productivity will have to be O a. 82.8 O b. 78.9 OC. 79.8 O d. 88.2 O e. 4.2
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- A firm makes a ceramic vases for a chain of department store. The output plus cost figures are below. Labor cost is 20 per hour and material cost is 8 per kilogram. WEEK 1 2 3 4 OUTPUT 2000 4000 5000 7000 # OF WORKERS 4 4 5 6 HOURS/WEEK 40 48 56 70 KG. OF MATERIALS 128 256 324 450 A. Calculate the labor productivity for each week. B. Calculate the multi factor productivity for each week C. What is the percentage change between week 1 and, and week 3and 4.1. Nasrin, Rashed and Tahmid run a Chocolate manufacturing company. Their productionruns 30-hour per week and they pay $6 per hour to their labors. Material cost is $3.5 per lbs.Machine productivity is 2.5 times weekly labor cost. Overhead is $300 per week. The weeklyproductivity figures are given below:Weeks Output (Units) Labors Material (lbs)1 1400 8 362 1500 9 343 1250 6 334 1300 7 35 a) Compute multi-factor productivity of machine and material for each of the monthsshown for their Chocolate manufacturing firm.b) Compute multi-factor productivity of Labor and Overhead for each of the months shownfor their Chocolate manufacturing firm.c) Compute total productivity measure for each of the months shown for their Chocolatemanufacturing firm.d) What do the productivity figures suggest? undefinedA 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.
- Compute the multifactor productivity measure for each of the weeks shown for production of chocolate bars. Assume 40-hour weeks and an hourly wage of $16. Overhead is 1.5 times weekly labor cost. Material cost is $9 per pound. Week Output (units) Workers Material (lbs) 1 29,000 8 440 2 34,000 9 490 3 31,000 3 510 4 41,000 8 610Tried and True’s accountant (from Problem 1-1) suggeststhat monthly rent and hourly wage rate also be factoredinto the productivity calculations. Annandale pays thehighest average wage at $6.75 an hour. Blacksburg pays$6.50 an hour, Charlottesville $6, and Danville $5.50. Thecost to rent store space is $1800 a month in Annandale,$2000 a month in Blacksburg, $1200 a month in Charlottesville, and $800 a month in Danville.a. Which store is most productive?b. Tried and True is not sure it can keep all four stores open.Based on multifactor productivity, which store would youclose? What other factors should be considered?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).
- 1. Susan has a part-time business producing seasonal plywood yard ornaments for resale at local craft fairs and bazaars. She currently works 8 hours per day to produce 16 ornaments. a. What is her productivity? b. She thinks that by redesigning the ornaments and switching from use of a wood glue to a hotglue gun she can increase her total production to 20 ornaments per day. What is her new productivity? c. What is her percentage increase in productivity? 2. A firm cleans chemical tank cars in the Bay St. Louis area. With standard equipment, the firm typically cleaned 70 chemical tank cars per month. They utilized 10 gallons of solvent, and two employees worked 20 days per month, 8 hours a day. The company decided to switch to a larger cleaning machine. Last April, they cleaned 60 tank cars in only 15 days. They utilized 12 gallons of solvent, and the two employees worked 6 hours a day. (a) What was their raw material and their labor productivity with the standard equipment? (b)…U.S. productivity has improved noticeably in recent years, averaging 4%–5% per year, whilethe U.S. economy grew by only 3.5%. The gain in productivity was due, in large part, to the use oftechnology, in addition to longer working hours by those who are lucky enough to have jobs.According to the Economic Policy Institute, the average U.S. worker has added 199 hours to a yearsince 1973. The United States achieved per hour productivity of $32, compared with $38 forNorway, and $34 for Belgium. In other words, U.S. workers are simply working longer, notnecessarily better, or smarter. They take less annual vacation time (only 10.2 days, on average),compared with 30 days in France and in Germany.At the same time, a large number of U.S. companies are aggressively outsourcing work to low-wagecountries, such as China, India, the Philippines, and Mexico. A 2003 study released by the Universityof California at Berkeley indicates that as many as 14 million U.S. service jobs are in danger of…Through the following data, the total productivity of Al Qimma Company for Juice Production during 5 months of 2020 (goodwill / productivity = 1.22, month 2 / productivity = 126, month 3 / productivity = 1.32, goodwill / productivity = 1.30, goodwill = 1.29). Calculate the index of change in productivity for the fourth month, considering that the productivity of the second month is the base year. 317% 31.7% 1.13% 3.17%
- Compute the multifactor productivity measure for each of the weeks shown for production of chocolate bars. What do the productivity figures suggest? Assume 40-hour weeks and an hourly wage of$12. Overhead is 1.5 times weekly labor cost. Material cost is $6 per pound.Week Output (units) Workers Material (lbs)1 30,000 6 4502 33,600 7 4703 32,200 7 4604 35,400 8 480Lillian 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…I need help filling out the rest of this chart and the formula ofr multifactor productivity. Total Units Total Units Productivity Change in Productivity 2019 2020 2019 2020 Change % Total Revenue (dollars) $1,000,000 $2,100,000 Labor Hours (hours) $12 $15 Materials (units) $5 $6 Capital Costs ($) $25,000 $40,000 Energy (kilowatts) $0.23 $0.23 Total Costs