Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires

Question

Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes

1 comma 0001,000

tires per day with the following resources:

  

Labor:

400400

$12.5012.50

Raw Material:

21 comma 00021,000

$1.001.00

Energy:

$5 comma 2505,250

Capital:

$10 comma 00010,000

a) Labor productivity per labor hour for these tires =

nothing

tires/labor hour (round your response to two decimal places).

Labor:

400400

hours per day @

$12.5012.50

per hour

Raw Material:

21 comma 00021,000

pounds per day @

$1.001.00

per pound

Energy:

$5 comma 2505,250

per day

Capital:

$10 comma 00010,000

per day

Explanation / Answer

(a) Labour Productivity = Total Output / Total Productive Hrs

       Output = 1000 tires per day

       Productive Hrs per day = 400 labour hrs

         Labour Productivity = 1000/400 = 2.50 times per labour Hour

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