Refer to Exercise 14 15 Required 1 Calculate
Refer to Exercise 14- 15.



Required
1. Calculate Raneiro’s operating income in both 2011 and 2012.
2. Calculate the growth, price- recovery, and productivity components that explain the change in operating income from 2011 to 2012.
3. Comment on your answers in requirement 2. What does each of these componentsindicate?
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