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chegg in a manufacturing process, five workers could produce 60 units per hour. labor costs are $15/hour, and material cost is $20/unit. overhead is charged at 1.5 times direct labor cost. finished units sell for $40 each. what is the multifactor productivity associated with the process?

Answer :

khuranashilpa76

The multifactor productivity associated with the process is 1.73.

A source of multi-factor productivity. MFPs are always influenced by the technology used by a company or industry in producing output products or services. Over time, MFP increases are subject to technological advancements. Productivity measures can be categorized as single factor productivity measures, which relate a measure of output to a single measure of inputs, labor productivity measures, or multifactor productivity measures.

Multi-Factor Productivity is a measure of economic output that compares the output to the combined inputs used to produce that output. A mix of inputs can include labor capital energy materials, and purchased services. Multifactor productivity is the output per unit of the total cost of a product. Changes in multifactor productivity reflect changes in outputs not changes in measured inputs.

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