CHAPTER 1 - TECHNICAL CASE #1 Lillian Folk is president of Lakefront Manufacturing, a producer of bicycle tires. Folk made 1,000 tires per day in 2018 with the following resources: ITEM 2018 2019 LABOR 400 hours per day @ $12.50/hour 400 hours per day @ $12.75/hour RAW MATERIAL 20,000 pounds per day @ $1/pound 20,000 pounds per day @ $1/pound ENERGY $5,000 per day $4,050 per day CAPITAL $10,000 per day $10,100 per day 1. What was her labor productivity per labor-hour for tires at Lakefront Manufacturing in 2018? 2. What was her multifactor productivity for these tires at Lakefront Manufacturing in 2018? In 2019 several changes occurred: Labor costs increased $0.25 per hour and capital also increased $100 per day to help pay for a new piece of equipment. However, energy costs decreased $50 per day with a the high efficiency piece of equipment (and this also increased production by 50 tires per day). 3. What was her labor productivity per labor-hour for tires at Lakefront Manufacturing in 2019? 4. What was her multifactor productivity for these tires at Lakefront Manufacturing in 2019? Compare the two years, tell me if her process improved in terms of labor productivity and costs per tire in this two-year period? Show your work and include it in a one-page summary of what you found. Make your work NEAT and LEGIBLE and upload to Canvas