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Problem 18-57 (Static) Productivity Measures (LO 18-6) Terrell Industries produces a single product at its...

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Accounting

Problem 18-57 (Static) Productivity Measures (LO 18-6)

Terrell Industries produces a single product at its Roosevelt facility. The product has two main inputs, metal and labor, with additional costs being included in manufacturing overhead. The plant carries neither work-in-process nor finished goods inventories. Information from the previous four quarters of production follows:

Q1 Q2 Q3 Q4
Metal input (pounds) 194,000 210,000 240,000 230,000
Labor input (hours) 9,700 10,560 12,500 11,500
Sales (pounds) 164,900 184,800 204,000 190,900
Average price of metal per pound $ 0.62 $ 0.66 $ 0.70 $ 0.65
Average wage rate per hour 32.00 34.00 28.00 30.00
Average sales price per pound 6.20 5.95 6.10 6.00
Manufacturing overhead (total) 387,224 418,660 397,000 421,820

Required:

a. Compute the partial productivity measures for metal for the four quarters.

b. Compute the partial productivity measures for labor for the four quarters.

c. Compute the total factor productivity for the four quarters.

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