Provides medical tests and evaluations for patients

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Med-Tech labs is a facility that provides medical tests and evaluations for patients, ranging from analyzing blood samples to performing magnetic resonance imaging (MRI). Average cost to patients is $60 per patient. Labor costs average $15 per patient, materials costs are $20 per patient, and overhead costs are averaged at $20 per patient. What is the multifactor productivity ratio for Med-Tech? What does your finding mean? (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM131037916

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