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The weekly output of a fabrication process is shown below together with data for labor and material inputs. Standard selling price is $100 per unit. Overhead is charged weekly at the rate of $2000. Assume a 40-hour week and an hourly wage of $14. Material cost is $8 per foot.
Week Output # Workers Material (feet)
1 420 6 1000
2 375 5 1000
a. (1) What is the Multifactor Productivity for Week 1 and Week 2?
b. (1) What is the Labor productivity for Week 1 and Week 2?
c. (1) Is the business Better Off or Worse Off in Week 2? Why or Why not?
Which behaviours, thinking approaches, emotional stances, decisions, and business management actions can be found in the two readings that pertain to adaptability, resilience, and/
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