USING THE EXAMPLE BELOW:

Units produced: $4,000$

Standard price: $$25/$unit

Labor input: $500$ hours

Cost of labor: $$20/$hour

Cost of materials: $$5,000$

Cost of overhead: $2$x labor cost

When using the formula for multifactor productivity, what is the answer for the calculation?

$$3\mathrm{.}45$

$$2\mathrm{.}86$

$$4\mathrm{.}00$

$$2\mathrm{.}57$