Question 1 Calculate the productivity for the following operations: Three employees processed 600 insurance policies last week. They 8 hours per day, 5 days per week. A team of workers made 400 units of product, which is valued by its standard cost of $10 each (before markups for other expenses and profit). That accounting department reported that for this job the actual cost were $ 400 per labor, $1000 for materials and 4300 for overhead.
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Question 1
Calculate the productivity for the following operations:
- Three employees processed 600 insurance policies last week. They 8 hours per day, 5 days per week.
- A team of workers made 400 units of product, which is valued by its
standard cost of $10 each (before markups for other expenses and profit). That accounting department reported that for this job the actual cost were $ 400 per labor, $1000 for materials and 4300 for overhead.
Question 2
- a) Find the productivity if four workers installed 720 square yards of carpeting in eight hours.
- b) Compute for the productivity of a machine which produced 68 usable pieces in two hours.
Question 3
Compute the multifactor productivity measure for an eight-hour day in which the usable output was 300 units, produced by three workers who used 600 pounds of materials. Workers have an hourly wage of $20 and material cost is $1 per pound. Overhead is 1.5 times labour cost.
Question 4
A health club has two employees who work on lead generation. Each employee works 40 hours a week, and is paid $20 an hour. Each employee identifies an average of 400 possible leads a week from a list of 8,000 names. Approximately 10 percent of the leads become members and pay a one-time fee of $100. Material costs are $130 per week, and overhead costs are $1,000 per week. Calculate the multifactor productivity for this operation in fees generated per dollar of input.
Question 5
Student tuition at Boering University is $ 100 per semester credit hours. The states supplement school revenue by matching student tuition, dollars per dollars. Average class size for typical three credit course is 50 students. Labor costs are $4000 per class, material costs are $20 per student, and overhead cost are $25,000 per class.
Find:
- a) What is the multifactor productivity ratio?
- b) If instructors work an average, what is the labor productivity ratio? (Keep in mind that professor delivering the lecture work 14 hours per week the semester last for 16 weeks)
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