Question: A company has improved its production process. Under the old process, 12 workers could produce 4,555 units per hours and the materials cost $53 per


A company has improved its production process. Under the old process, 12 workers could produce 4,555 units per hours and the materials cost $53 per unit of output. Workers are paid $17 per hour and the finished product is sold for $103 per unit. After the improvement, materials costs have been reduced by $10 per unit of output and it now takes 4 fewer workers to make the same amount of output. What is the percentage change in multifactor productivity? (do not use a % sign, e.g. enter 50% as .5) A company produces 1,197 units of output per hour using 28 workers and 520 pounds of raw materials. Each worker is paid $16 per hour. Materials cost $8 per pound. Overhead is charged at 1.7 times the labor expense. Finished units sell for $111 each. What is multifactor productivity? ($/$)
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