Last year, to produce 244 units of our signature product, we required 124 hours of labor, 413 dollars worth of overhead, and 87 units of material. During that time period, labor cost 22 per hour and material cost 35 per unit, and a unit of output was worth 525. If this year everything stays the same except a 9 decline in the value of a unit of output, what will be our multifactorial productivity?
(Answered) : Last year, to produce 244 units of our signature product, we required 124 hours of labor, 413 dollars worth of overhead, and 87
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UO L O M MI=(L+O+M) UO/MI
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