Question: Problem 18-62 (Static) Productivity MeasuresWorking Backwards (LO 18-6) Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files

Problem 18-62 (Static) Productivity MeasuresWorking Backwards (LO 18-6)

Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following:

Fabric price (per bolt)	$ 30.00
Sales price (per bolt)	$ 120.00
Sales revenue	$ 2,160,000
Manufacturing overhead	$ 510,000
Total factor productivity	1.60
Total labor costs	$ 120,000

Required:

Determine the partial fabric (materials) productivity.

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