Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: Labor: Raw Material: Energy: Capital: 425 hours per day @$12.50 per hour 21,000 pounds per day @ $1.50 per pound $5,250 per day $10,250 per day a) Labor productivity per labor hour for these tires = 2.82 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = 0.0229 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 =% (entor your response as a percentage rounded to two decimal placos). Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.
Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: Labor: Raw Material: Energy: Capital: 425 hours per day @$12.50 per hour 21,000 pounds per day @ $1.50 per pound $5,250 per day $10,250 per day a) Labor productivity per labor hour for these tires = 2.82 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = 0.0229 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 =% (entor your response as a percentage rounded to two decimal placos). Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.
Practical Management Science
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Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Question
a,b,c
![Lilian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following
resources:
Labor:
Raw Material:
Energy:
Capital:
425 hours per day @ $12.50 per hour
21,000 pounds per day @ $1.50 per pound
$5,.250 per day
$10,250 per day
a) Labor productivity per labor hour for these tires = 2.82 tires/labor hour (round your rosponse to two decimal places).
b) Multifactor productivity for these tires = 0.0229 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 =% (enter your response as a percentage rounded to two decimal places).
Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff15af996-9f6a-47f9-972f-db5647a8db7b%2Ff19edb2f-f152-4063-8324-0a326c9aeb60%2F1uw0x7p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Lilian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following
resources:
Labor:
Raw Material:
Energy:
Capital:
425 hours per day @ $12.50 per hour
21,000 pounds per day @ $1.50 per pound
$5,.250 per day
$10,250 per day
a) Labor productivity per labor hour for these tires = 2.82 tires/labor hour (round your rosponse to two decimal places).
b) Multifactor productivity for these tires = 0.0229 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 =% (enter your response as a percentage rounded to two decimal places).
Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.
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