Determine the total factor productivity for each year

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Reference no: EM131476071

The following data are given for a caterer in Washington, DC:

Last Year This year

Total sales: $1,800,000 $1,840,000

Total cost of materials

(produce & other food items): $450,000 $480,000

Labor hours used: 24,000 hours 23,000 hours

Cost of labor (including fringe): $16.00 per hour $16.50 per hour

Energy & other overhead costs: $165,000 $172,000

Determine multi-factor productivity for labor & materials for each year.

Determine the total factor productivity for each year.

The company’s goal is to improve its total productivity performance by 6% each successive year. Has it achieved its goal this year compared to the previous year? (Please show your work

Reference no: EM131476071

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