Trombly Fabrication has three production facilities located in the state, each producing the same basic mix of products. Facility 1 was the original plant and the only one for several years. Facilities 2 and 3 were added recently to handle the increased volume. Data for the three facilities on output and the three primary inputs for the most recent period follow: Value of product produced Materials cost Labor cost Overhead Facility Facility 1 $ 545,698 223,000 92,820 100,980 Total Factor Productivity Facility 2 $ 283,108 138,400 40,100 81,900 Required: a. Compute the total factor productivity for the three production facilities. Note: Round your answers to 2 decimal places. Facility 3 $ 242,432 123,700 36,200 71,900

Trombly Fabrication has three production facilities located in the state, each producing the same basic mix of products. Facility 1 was the original plant and the only one for several years. Facilities 2 and 3 were added recently to handle the increased volume. Data for the three facilities on output and the three primary inputs for the most recent period follow: Value of product produced Materials cost Labor cost Overhead Facility Facility 1 $ 545,698 223,000 92,820 100,980 Total Factor Productivity Facility 2 $ 283,108 138,400 40,100 81,900 Required: a. Compute the total factor productivity for the three production facilities. Note: Round your answers to 2 decimal places. Facility 3 $ 242,432 123,700 36,200 71,900

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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