1. (2 points) State if the sentence is true or false. In case of false, explain
ID: 386836 • Letter: 1
Question
1. (2 points) State if the sentence is true or false. In case of false, explain why Competitiveness relates to the profitability of an organization in the market place Tracking productivity measures over time enables managers to judge organizational performance and decide where improvements are needed. Environmental scanning is a search for events or trends that present either threats or opportunities to the organization. Traditional strategies of business organizations have tended to emphasize cost minimization or product differentiation. 2. (2 points) The weekly output of a production process is shown below, together with data for labor and material inputs. The standard inventory value of the output is $130 per unit. Overhead is charged weekly at the rate of $1,750 plus 0.5 times direct labor cost. Assumea 40-hour week and an hourly wage of $16. Material cost is S11 per running foot. What is the average multifactor productivity for this process? 412 2840 2550 2720 2790 392 (Hint: Calculate the weekly multifactor productivities and ten average.) 3. (2 points) Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are asExplanation / Answer
PLEASE FIND BELOW ANSWER TO QUESTION 2 :
Refer below table which presents calculated values of multifactor productivity for each week and average multifactor productivity :
Week
Output
Output value ($)
Workers
Total wages ($)
Overhead ($)
Material quantity ( ft)
Material cost ($)
Total cost($)
Multifactor productivity
1
412
53560
6
3840
3670
2840
31240
38750
1.3822
2
364
47320
5
3200
3350
2550
28050
34600
1.3676
3
392
50960
5
3200
3350
2720
29920
36470
1.3973
4
408
53040
6
3840
3670
2920
32120
39630
1.3384
Average =
1.3714
Following assumptions and methodology have been followed for calculation of multifactor productivity :
Based on above , answers for multifactor productivity as follows :
Week
Multifactor productivity
1
1.3822
2
1.3676
3
1.3973
4
1.3384
Average :
1.3714
Week
Output
Output value ($)
Workers
Total wages ($)
Overhead ($)
Material quantity ( ft)
Material cost ($)
Total cost($)
Multifactor productivity
1
412
53560
6
3840
3670
2840
31240
38750
1.3822
2
364
47320
5
3200
3350
2550
28050
34600
1.3676
3
392
50960
5
3200
3350
2720
29920
36470
1.3973
4
408
53040
6
3840
3670
2920
32120
39630
1.3384
Average =
1.3714
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