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Goldstein Company manufactures wallets from fabric. In 2019 , Goldstein made 2,700,000 wallets using 1,875,000 yards of fabric. In 2019, Goldstein has capacity to make 3,600,000 wallets and incurs a cost of $10,800,000 for this capacity. In 2020 , Goldstein plans to make 3,348,000 wallets, make fabric use more efficient, and reduce capacity. Suppose that in 2020 Goldstein makes 3,348,000 wallets, uses 2,160,000 yards of fabric, and reduces capacity to 3,100,000 wallets at a cost of $10,540,000. Read the requirements. Requirement 1. Calculate the partial-productivity ratios for materials and conversion (capacity costs) for 2020 , and compare them to a benchmark for 2019 calculated based on 2020 output. To assist you, use the popup to identify the various components of the formulas. (Click to view the components you will use in your formulas.) Begin by determining the formula for the direct materials partial-productivity ratio in 2020 , then complete the calculation. (Round the ratio to three decimal places.) 2020Directmaterialspartialproductivityvalletsperyard Next determine the formula for the conversion costs partial-productivity ratio in 2020 , then complete the calculation. (Round the ratio to three decimal places.) walletsperunitofcapacity2020Conversioncostspartialproductivity Now determine the formula for the direct materials (DM) partial-productivity ratio that will be used as a benchmark for 2019, then calculate the ratio. (Abbreviation used: dm= direct materials. Round the ratio to three decimal places.) Finally determine the formula for the conversion costs (CC) partial-productivity ratio that will be used as a benchmark for 2019 , then calculate the ratio. (Round the ratio to three decimal places.) Goldstein Company's partial productivity of direct materials and the partial productivity of conversion costs between 2019 and 2020. Requirement 2. How can Goldstein Company use the information from the partial-productivity calculations? Select the two statements that correctly states how to use the information. Management can use the partial productivity measures to set the selling price for the next year. The selling price is then easily compared over multiple periods. An advantage of partial productivity measures is that they focus on multiple inputs. As a result, they are more complex to calculate, but easily understood by operations personnel. An advantage of partial productivity measures is that they focus on a single input; hence, they are simple to calculate and easy to understand at the operations level. They may specify bonus payments if partial productivity of direct materials increases to 1.95 units of output per yard and if partial productivity of conversion costs improves to 1.25 unit of output per unit of capacity. Reference A Capacity units from 2019 to produce 2020 B Capacity units in 2019 C Capacity units in 2020 D Qty of output produced in 2019 E Qty of output produced in 2020 F Yards of direct materials from 2019 to produce 2020 output G Yards of direct materials used in 2019 H Yards of direct materials used in 2020