Scorecard Measures, Strategy Translation At the end of 20x1, Mejorar Company implemented a low-cost strategy to improve its competitive position. Its objective was to become the low-cost producer in its industry. A Balanced Scorecard was developed to guide the company toward this objective. To lower costs, Mejorar undertook a number of improvement activities such as JIT production, total quality management, and activity-based management. Now, after two years of operation, the president of Mejorar wants some assessment of the achievements. To help provide this assessment, the following information on one product has been gathered: 20x1 20x3 Theoretical annual capacity " Actual production" Market size (in units sold) 249,600 249,600 208,000 234,000 1,300,000 1,300,000 Production hours available (40 workers) 104,000 104,000 Very satisfied customers i 83,200 117,000 Actual cost per unit $320 $256 Days of inventory 14 7 Number of defective units 14,560 7,020 Total worker suggestions 80 320 Hours of training 260 1,040) Selling price per unit $200 $200 Number of new customers 5,200 25,740 "Amount that could be produced given the available production hours; everything produced is sold. eBook Amount that could be produced given the available production hours; everything produced is sold. "Amount that was produced given the available production hours. Required: 1. Compute the following measures for 20x1 and 20x3: a. Actual velocity and cycle time. If required, round your answers to two decimal places. Actual velocity Actual cycle time 20x1 per hour minutes 20x3 per hour minutes b. Percentage of total revenue from new customers (assume one unit per customer). Round your percentage answer to one decimal place (for example, enter 4.628% as "4.5"). 20x1 20x3 c. Percentage of very satisfied customers (assume each customer purchases one unit). 20x1 20x3 d. Market share. 20x1 20x3 % % % %