A company produces three types of products: A, B,and C. The following tables shows some details onthose products. Calculate the multifactorproductivity of the three products together.Round to the nearest hundredth, i.e., two digitsafter the decimal point (0.00).Product AProduct BProduct CDaily Production (units)100012001500Selling Price (Sfunit)101213Material cost (S/1000 unit)200200200Labor cost (S/1000 unit)200250300Daily Fixed Costs120015003000Answer:6.22

MULTIFACTOR PRODUCTIVITY= TOTAL SELLING PRICE/TOTAL COST PRICE

Answered: those products. Calculate the…

Business

Operations Management

those products. Calculate the multifactor productivity of the three products together.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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

See similar textbooks

Related questions

Q: Explain the structured approach by Anderson and Narus to value in use prici or life cycle costing in…

A: They take into account the activities required in generating a thorough list of value aspects, which…

Q: Why does a world-class competitor's proper processes and supply chain policy change too frequently?

A: It is important for a company to be able to respond rapidly to shifts in demand in today's…

Q: How can the integration of sustainability concepts harmonize with an organization's enduring…

A: Sustainability concepts embody the fundamental or basic principles or standards of responsible…

Q: 35) Which of the following is an appropriate criterion to monitor the performance of functional…

A: A functional strategy - it is the short-duration game design for a fundamental functional division…

Q: how the product mix affect the operation?

A: what's Product blend? Product mixture, moreover called productseries or product portfolio, refers…

Q: 3. Using the value chain framework developed by Michael E. Porter, apply the value chain primary…

A: Note: The answer has been framed in a generalized mannerThe term value chain represents a series of…

Q: Explain Major competitiveness/differentiation of the product/service from its competitors. Note:…

A: Walton Hi-Tech Industries Limited, regularly alluded to as Walton, is a private restricted…

Q: dentify a product of your choice (new or existing) and discuss the strategies related to operations…

A: Product Life cycle is a life cycle of a product from its inception in the Market till its…

Q: The production head at the All Paints and Surface Corp. would frequently stay back after office…

A: In the above-given situation, distinguished an opportunity to make new colours and tried different…

Q: A furniture manufacturer is assessing whether it should make or buy the wooden frames for…

A: Given, data :-the volume of chair to be produced per year= 100,000Fixed cost per year to make the…

Q: main goal or purpose of the RFM Corporation as an organization.

A: RFM Corporation is a business established in the Philippines. The business manufactures, processes,…

Q: Explain product life cycle in detail. As the product move from one phase of life cycle to another…

A: A product life cycle refers to the time taken for a product to go from the stage of introduction…

Q: What is the break-even points for wine?

Q: What are the basic elements of the S&OP process? How do marketing, logisitics, finance, and…

A: The basic elements of S&OP are run sales forecast reports, demand planning phase (marketing and…

Q: Value chain. discuss how each channel in the product or service offering adds value to the customer…

A: About Marketing -The core of the marketing concept is determining and meeting the requirements and…

Q: What term is used to refer to those activities that are the key source of competitive advantage?

A: Strategic activities.

Q: How would you expect this situation to affect the assessment of Eastern’s financial condition and…

A: Introduction: In this situation, Eastern’s focus on making profits, creating customers, and fighting…

Q: Hello! So what is the maximum daily profit obtainable for Prime Paints in the manufacture of these…

A: Linear programming is a mathematical technique that is also used in operations management…

Q: Identify how organizations gain a sustainable competitive advantage through their resourcing…

A: Competitive advantage is an unmistakable and feasible edge that a business or association has over…

Q: What types of industries, beyond movie rentals, are likely to find revenue sharingagreements…

A: Revenue sharing agreement/contract : We all know that in any agreement/contract there exists two…

Q: Discuss how the performance of a firm can be evaluated. Illustrate with appropriate examples.

A: You can decide how well your organization is performing by contrasting the aftereffects of drives…

Q: a practical example of a firm with lasting competitive

A: What distinguishes a business from its rivals is its competitive advantage. It is necessary for a…

Q: Compare and contrast the importance of meeting customer demand with the alternatives

A: Customers are the people taking part in economic exchange with the firm. They purchase the product…

Q: ance adjusted for cribe how you wa IOW

A: An organization's human resources are managed via performance management, which includes…

Q: Explain the supply solutions that are used in sales and operations planning?

A: The supply chain is described as the mechanism by which firms/organizations participate in the…

Q: Choose one ERP business value and explain why you think it's important.

A: Enterprise resource planning : Enterprise resource planning (ERP) includes technologies and systems…

Q: What is the Corporate Mission Statement of Home Depot?

A: Home Depot was established in 1978, and now the form is providing leading home improvement retailer…

Q: 2. A home-based meat loaf factory makes two special meat loafs by mixing pork meat and beef meat.…

A: The factory is preparing 2 mixtures. We have to find the number of lbs of each mixture. Hence, there…

Q: Dramatic cost advantages can emerge from finding innovative ways to restructure processes and tasks,…

A: A company faces many challenges on a day to day basis. They constantly need to be updated on market…

Q: What do systems do? A) Separate functional areas B) Identify elements that add value to products C)…

A: Introduction A system is a collection of interconnected or interacting elements that follow a set of…

Q: In small teams, research the benefits of purchasing the following products online:a. tablet…

A: Disclaimer: Since you have posted a question with multiple sub-parts, so we will solve first three…

Q: 10. According to the product market growth matrix, the best products to have are: A. Cash cows and…

A: ANSWER: OPTION (C) IS THE CORRECT ANSWER.

Q: Why do firms and organizations report on their sustainability efforts,

A: Sustainable reporting enables organizations to report on environmental and social performance. It is…

Q: discuss how wrigley's can use the low-cost strategy. strategy and differentiate strategies to give…

A: The mission of an organization is defined by its purpose, providing boundaries and a focus for the…

Question

A company produces three types of products: A, B,
and C. The following tables shows some details on
those products. Calculate the multifactor
productivity of the three products together.
Round to the nearest hundredth, i.e., two digits
after the decimal point (0.00).
Product A
Product B
Product C
Daily Production (units)
1000
1200
1500
Selling Price (Sfunit)
10
12
13
Material cost (S/1000 unit)
200
200
200
Labor cost (S/1000 unit)
200
250
300
Daily Fixed Costs
1200
1500
3000
Answer:
6.22

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions

1.3) Evaluate the business level strategy implemented by Drip Footwear.
include detailsof blue apron following differentiation strategy to justify my selection
Porter's value chain analysis of outlook magazine.
Analyze how does USAA business model for capitalizing value from not just products but also service offerings (or servitization)
Please create competitive strategy of “RENEWABAG” Note: details in the photo attached
Company can increase performance by conform to the customer requirement. Do you agree? Why?
A company's strategic options for internally performed value chain activities do not include: A) implementing the use of best practices, particularly for high-cost activities. B) switching to activity-based costing. C) investing in productivity-enhancing, cost-saving technological improvements. D) revamping its value chain to eliminate or bypass some cost-producing activities (particularly low value-added activities). E) outsourcing the performance of high-cost activities to vendors that can perform them more cheaply.
snip
Identify and describe an American firm of your choice that is challenged in its production operations to support its basic business needs to manufacture a high-quality product, safely, within budget, and on schedule. Its operations management is characterized by a culture that supports the vision and mission statements. This business problem (its production operations) includes a mismanaged supply chain, massive overtime wage payouts to make up for lost time injuries, increasing turnover and no shows at the work site, and where there is a spike in customer complaints resulting in business loss and narrowing profit margins. As a decision maker, what action plan would you recommend to the senior leadership of the organization to take it from its current conditions to bring it closer to its ideal operating conditions (to become a company known for zero-defects, excellence in supply chain management, customer satisfaction, safe and reliable high-quality products, value to the customer,…
In a product mix decision, which is the most important factor to consider to maximize profit?