7 Martin Manufacturing has implemented several programs to improve its productivity. They haveasked you to evaluate the firm's productivity by comparing this year's performance with last year's.The following data are available.Last YearThis YearOutput10,500 units12,100 unitsLabor$12,000$7,600$83,000$13,200Utilities$8,250Capital$88,000a. What is the percent change in labor productivity this year vs. last year?7.69%b. What is the percent change in utilities productivity this year vs. last year?6.52%c. What is the percent change in capital investment's productivity this year vs. last?[ Select ]d. What is the overall multi-factor productivity for last year? [ Select]e. What is the overall multi-factor productivity this year? [Select]f. What is the multi-factor percent change this year vs. last year? ( Select]>

New product development in business and engineering refers to the entire process of launching a…

Answered: Martin Manufacturing has implemented…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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

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"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.
Various financial data for InMotion Manufacturing for 2013 & 2014 follow (in 1000s). 2013 2014 Output: Sales $1432 $1765 Inputs: Labor $40 $41 Raw Materials $45 $61 Energy $9 $11 Capital Expenses $137 $187 Other $3 $6 What is the percentage change in InMotion’s total productivity measure from 2013 to 2014? Give your answer in decimal form to 3 decimal places. For example, 0.051 and NOT 5.10%. Also, indicate a negative change like -0.051 if needed.
Martin Manufacturing has implemented several programs to improve its productivity. Theyhave asked you to evaluate the firm's productivity by comparing this year's performance with lastyear's. The following data are available:Last Year This yearOutput 10,500 units 12,100 unitsLabour hours 12,100 units 13,200Utilities 7,600 8,250Capital 83,000 88,000Has Martin Manufacturing improved its productivity during the past year?
Price / Unit ($) Units Sold Labor (HRS) Labor Cost / HR Material Usage (LBS) Material Cost / LB Other Costs Total Productivity ($) Labor Productivity ($) Material Productivity ($) roductivity Growth (%) Q1 $171.67 27,708 29,365 $63.25 14,306 $51.20 $57,224.20 $2.561 $6.494 Q2 $189.74 23,190 22,588 $63.25 12,980 $54.21 $48,188.80 $3.080 $6.253
As part of a study for the Department of LaborStatistics, you are assigned the task of evaluating the improvementin productivity of small businesses. Data for one of thesmall businesses you are to evaluate are shown at right. The dataare the monthly average of last year and the monthly average thisyear. Determine the multifactor productivity with dollars as thecommon denominator for:a) Last year.b) This year.c) T hen determine the percentage change in productivity for themonthly average last year versus the monthly average this yearon a multi factor basis.+ Labor: $8 per hour+ Capital: 0.83% per month of investment+ Energy: $0.60 per BTU
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
The manager of a crew that installs carpeting has tracked the crew’s output over the past severalweeks, obtaining these figures:Week Crew Size Yards Installed1 4 962 3 723 4 924 2 505 3 696 2 52Compute the labor productivity for each of the weeks. On the basis of your calculations, what canyou conclude about crew size and productivity?
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 $124,000 per year. Should we consider purchasing this equipment (using productivity arguments alone)? Assume that there are 52 weeks per year. Round your answer for productivity to two decimal places. For the newer machine, the productivity is -Select-, it would be a-Select- investment. -Select- higher lower units of output per dollar input. Because the productivity of the new machine is
Explain the meaning of the saying that productivity is a relative measure briefly .
An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy contract was for 3,140 devices and took 32 workers two weeks (40 hours per week) to complete. The army contract was for 7,040 devices that were produced by 42 workers in three weeks (40 hours per week). a. Calculate the productivity for navy and army contracts in units produced per labor hour. (Round your answers to 2 decimal places.) Contract Productivity Navy Army b. On which contract were the workers more productive? O Navy contract O Army contract
What do we mean when we say productivity is a relative measure?
As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year. Last Year This Year Production (dozens) 1,500 1,500 Labor (hours) 350 325 Capital Investment ($) 15,000 18,000 Energy (BTU) 3000 2700 Labor: $10.00/hr. Capital: 6% per month of Investment Energy: $0.75 per BTU. Determine the labor productivity in labor dollars for last year and this year. Determine the multifactor productivity for last year and this year. Determine the percentage change in productivity for last year versus this year.

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