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Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following: Fabric
Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following:
Fabric price (per bolt) | $ 32 |
---|---|
Sales price (per bolt) | $ 165 |
Sales revenue | $ 2,240,000 |
Manufacturing overhead | $ 500,000 |
Total factor productivity | 2.00 |
Total labor costs | $ 130,000 |
Required:
Determine the partial fabric (materials) productivity.
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
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