User Account

All Pages

Determine total factor productivity for year

Assignment Help Operation Management
Reference no: EM132746351

Based on the data provided below for a small company, please answer the questions that follow:

Previous Year Current Year

Total # units produced 200,000 210,000

Average price/unit $12.00 $12.25

Total cost of raw materials $250,000 $270,000

Labor hours used: 30,000 hours 28,000 hours

Average labor cost (incl. fringe) $18 per hour $19 per hour

Other resources, incl. Overhead $190,000 $210,000

A) Determine labor productivity for each year.

B) Determine multifactor productivity for labor and raw materials.

C) Determine total factor productivity for each year.

Suppose the manager has set the goal of improving total productivity by at least 3% this year compared to the previous year. As an operations analyst in the company, she turned to you and said: "I need to know if we have achieved our productivity goal this year. I would also like to know the relative productivity performance of each factor during the two years."

Assignment: Please help the manager understand if the desired 3% growth in total productivity has been achieved this year compared to last year, and show the relative productivity performance of each factor during the two years.

Reference no: EM132746351

Questions Cloud

List four commercially important benefits of microorganisms : List four commercially important benefits of microorganisms
Briefly discuss leadership dilemmas : Briefly discuss Leadership dilemmas and the Diversity Paradox and its interconnectivity to Diversity - specifically within the workplace
What are the advantages of a defined benefit plan : What are the advantages of a defined benefit plan and defined contribution plan? What are the disadvantages of a defined benefit plan and defined contribution.
Explain five objectives of the internal audit function : Discuss FIVE (5) areas the external auditor is able to rely on the internal auditor's work in the case above. Explain FIVE objectives of the internal audit
Determine total factor productivity for year : Based on the data provided below for a small company, please answer the questions that follow:
State the impacts of the internal audit department : Hollibarn Ltd has expanded rapidly, state and explain FIVE (5) impacts of the internal audit department on the control environment of Hollibarn Ltd as a whole.
Determine the optimum number of order per year : Determine the optimum number of order per year. Round answer to 2 decimal places.
Calculate the productivity of week 23 : Calculate the productivity of week 23. Leave your answers with 2 decimals and use (.) as decimal separators.
How has diversity conscious opened your mind : how has Diversity Conscious opened your mind to others/people, cultures, and opportunities? Has this course created a sense of awareness

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd