Question: need help with these two problems 4. (20 Points) ABC-Tech produces foam materials for use in various industrial applications. Their best-selling foam product, which has

need help with these two problems need help with these two problems 4. (20 Points)
4. (20 Points) ABC-Tech produces foam materials for use in various industrial applications. Their best-selling foam product, which has a very low thermal conductivity, is made out of two proprietary blends of chemicals - Material 1 (which costs $1.95/1b) and Material 2 (which costs $0.95/L). ABC-Tech uses 4 staff members in its plant. Assume that each worker works a 40 hour week. The hourly wage for the workers is $16/hr. When they use 4 employees, they produce 3,950 square feet of foam. To make this much foam, they must use 1,9355 lb of Material 1 and 90 oz of Material 2. They sell the foam for $125/square foot. Calculate the multi-factor productivity. (You may choose to do this by hand or in a spreadsheet - either way, show your work below.) Round your answer to four decimal places. 5. (25 Points) Consider ABC-Tech again. Instead of using 4 employees, assume they hire 6 employees, again each working a 40 hour week, and being paid an hourly wage of $16/hr. With 6 employees, they produce 4,510 square feet of foam (which takes 22,099 lb of Material 1 and X oz of Material 2). Assume that their final multi-factor productivity is 0.09589. How many ounces of Material 2 did they use? Assume the same material prices as above. (You may choose to do this by hand or in a spreadsheet either way, show your work below.) Round to 1 decimal place

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