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: $0.75 per BTU. Determine the labor productivity in labor dollars for last year and this year. Determine the multifactor productivity for last year and this year. Determine the percentage change in productivity for last year versus this year.
As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year. Last Year This Year Production (dozens) 1,500 1,500 Labor (hours) 350 325 Capital Investment ($) 15,000 18,000 Energy (BTU) 3000 2700 Labor: $10.00/hr. Capital: 6% per month of Investment Energy: $0.75 per BTU. Determine the labor productivity in labor dollars for last year and this year. Determine the multifactor productivity for last year and this year. Determine the percentage change in productivity for last year versus this year.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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- As part of the Department of Labor Statistics, you are assigned the task of evaluating the improvement of small businesses. Data for one of the small businesses are shown below. The data are monthly average of last year and monthly average of this year.
|
Last Year |
This Year |
|
|
Production (dozens) |
1,500 |
1,500 |
|
Labor (hours) |
350 |
325 |
|
Capital Investment ($) |
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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