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Ternes Manufacturing produces metal products primarily used in the construction industry. The three main inputs in production are materials (metal), labor, and overhead. Data for
Ternes Manufacturing produces metal products primarily used in the construction industry. The three main inputs in production are materials (metal), labor, and overhead. Data for the previous three reporting periods follow:
Period 3 | Period 2 | Period 1 | |
---|---|---|---|
Materials cost | $ 54,000 | $ 68,500 | $ 63,750 |
Labor cost | 33,150 | 42,820 | 39,200 |
Overhead | 46,050 | 51,600 | 49,850 |
Value of product produced | 140,930 | 182,504 | 167,604 |
Required:
a. Compute the total factor productivity for the previous three reporting periods.
Note: Round your answers to 2 decimal places.
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