Explain the meaning of the saying that productivity is a relative measure briefly .
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Explain the meaning of the saying that productivity is a relative measure briefly .
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- What do we mean when we say productivity is a relative measure?The manager of a crew that installs wood floors has tracked the crew’s output over the past several weeks. Each worker works 40 hours per week, and earns $22 per hour. The wholesale cost of lumber to the company is $9 per square foot, and the company charges its customers $25 per square foot of flooring installed. Overhead rate is 100% a) using the best formula to determine labor productivity, calculate labor productivity for each of the weeks b) calculate multifactor productivity for each week using the dollar revenue of flooring installed in the numerator week crew size lumber used flooring installed week 1 4 480 420 week 2 3 371 325Find the average of the monthly productivity figures
- A factory produces 14,000 desk staplers each week. The equipment used costs $50,000 and will remain productive for four years. The labor cost per year is $190,000. a. What is the productivity measure of "units of output per dollar of input" averaged over the four-year period? Assume that there are 52 weeks per year. Round your answer to two decimal places. units of output per dollar input b. We have the option of buying $55,000 of new equipment, with an operating life of seven years. It would reduce labor costs to $124,000 per year. Should we consider purchasing this equipment (using productivity arguments alone)? Assume that there are 52 weeks per year. Round your answer for productivity to two decimal places. For the newer machine, the productivity is -Select-, it would be a-Select- investment. -Select- higher lower units of output per dollar input. Because the productivity of the new machine isDescribe the meaning of the saying productivity is a relative measure ?Mazen is a manager in a factory producing fabrics. In 2020, the daily production target was met in terms of quality and quantity. But, this target was achieved as a result of an increased number of workers and import of high quantities of cotton and piles of leftovers, meaning an extra inputs' costs. He decided to make negotiations with local industries to sell them cotton remnants to be recycled and re-used in pillow manufacturing.The productivity of this factory is: * Effective and efficient Neither effective nor efficient Effective but not efficient O Not effective but efficient
- Apex Brothers builds birdhouses for its customers. The average birdhouse is priced at $30. Labor costs for a birdhouse average $10 per birdhouse, material costs average $3 per birdhouse, and overhead costs average $5 per birdhousea.What is the labor productivity?b.What is the materials productivity?c.What is the total productivity?A shoe factory produces 95,000 shoes each week. The equipment used costs $15,000 and will remain productive for three years. The labor cost per year is $16,000. What is the productivity measure of “units of output per dollar of input” averaged over the three-year period? Hint: Productivity = total units produced divided by the total labor cost plus total equipment cost"We are already measuring total factor productivity. Measuring partial productivities would be of no value." Do you agree? A. Yes, total factor productivity is the goal of the measurement. Once achieved there is no need for further analysis. B. Yes, partial productivity measures should only be calculated if you cannot calculate total factor productivity. C. No, total factor productivity and partial productivity measures work best together because the strengths of one offset weaknesses in the other. D. No, you must always calculate partial productivity measures for the total factor productivity to have any meaning.
- Q- ABC Company produces 10,000 units per month. The unit is sold in the market for $2. The labor costs the company $5,000 per month. The material to produce the required quantity costs them $1,000. The overhead cost for the company is $3,000. Calculate the multifactor productivity for the company.A-Calculate the total productivity measure for this company for both years B-calculate the partial productivity measures for labor, capital, and raw materials for this company for both yearsPak Andi is a director of a cake factory in the Bekasi area. To produce 900 cakes per day it takes the following things: Labor 300 hours per day @ $ 96 per hour Raw material 3 tons per day @ $ 2 per kg Energy $ 10,000 per day Capital cost $ 5,000 per day a. What is the labor productivity per labor-hour for the production of cakes at the factory?b. What is the multifactor productivity for cake production at the factory?c. If Mr. Andi wants to increase his production to 1,500 cakes per day without changingother variables, what is the productivity now?