Question: Refer to the data in Exercise 18-29 (McKinley Industries). From the accounting records, you also gather the following information for the two years: Required a.

Refer to the data in Exercise 18-29 (McKinley Industries). From the accounting records, you also gather the following information for the two years:

Required
a. Compute the total factor productivity measures for year 1 and year 2 based on the three inputs (material, labor, and overhead).
b. Comment on the results.
c. Describe briefly the advantages and disadvantages of the total factor productivity relative to the partial measures computed in Exercise 18-29. Would it be useful to reportboth?

Year 2 Year 1 Cost of inputs (per gallon). Wage rate (per hour) Total manufacturing overhead Selling price of output (per gallon) $85 $22 $3,200,000 $360 $90 $19 $2,900,000 $370 ..-...

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