Last week a firm produced 1,780 units of its signature product. In producing those units, 2...
Last week a firm produced 1,780 units of its signature product. In producing those units, 2 employees worked 20 hours each. In units per labor hour, what was labor productivity?
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Last week a firm produced 1,780 units of its signature product.
In producing those units, 2...
Question: A firm currently employs 40 production workers and 5 supervisors. The marginal product of the...
Question: A firm currently employs 40 production workers and 5 supervisors. The marginal product of the last production worker employed is 60 units of output per hour and production workers are paid $8 per hour. The marginal product of the last supervisor employed is 120 units of output per hour and supervisors are paid $20 per hour. Every employee works 40 hours per week. a) What is the firm's total labor cost per week? b) Assume that the firm's isoquants...
Problem 2-17 Two types of cars (Deluxe and Limited) were produced by a car manufacturer last...
Problem 2-17 Two types of cars (Deluxe and Limited) were produced by a car manufacturer last year. Quantities sold, price per unit, and labor hours follow. QUANTITY $/UNIT Deluxe car 2,850 units sold $ 8,700 /car Limited car 6,350 units sold $ 10,200 /car Labor, Deluxe 21,750 hours $ 11 /hour Labor, Limited 29,555 hours $ 14 /hour What is the labor productivity for each car? Provide two sets of figures: units per labor hour, and dollar of output...
A firm is producing a product using only labor and physical capital. The price of labor...
A firm is producing a product using only labor and physical capital. The price of labor (wage rate) is $ 20/hour, and the cost of capital is $ 60/hour. If the marginal product of labor is 300 units an hour, what must be the marginal product of capital if the firm is a profit maximizer?
A firm uses 100 hours of labor and 20 units of capital to produce 5,000 bicycles...
A firm uses 100 hours of labor and 20 units of capital to produce 5,000 bicycles a day. Labor’s marginal product is 4 bicycles per day and the marginal product of capital is 10 bicycles per day. Each unit of labor costs $20 and each unit of capital costs $40 per hour. If the firm wants to continue producing 5,000 bicycles per day at the lowest possible cost, it should A. Continue using 100 hours of labor and 20 units...
A firm produces its product using only labor. Its production function is Q? = 20LminusUpper L...
A firm produces its product using only labor. Its production function is Q? = 20LminusUpper L squared?, where Q is the number of units of output produced and L is the number of labor hours used. The firm purchases labor in a competitive labor market at the going wage rate of w? = ?$11 per hour. The firm sells its output in a competitive market at the market price of P? = ?$2.
Deluxe, Inc. produced 1,000 units of the company's product in 2018. The standard quantity of direct...
Deluxe, Inc. produced 1,000 units of the company's product in 2018. The standard quantity of direct materials was three yards of cloth per unit at a standard cost of $1.10 per yard. The accounting records showed that 2,800 yards of cloth were used and the company paid $1.15 per yard. Standard time was two direct labor hours per unit at a standard rate of $11.25 perc as two direct labor hours per unit at a standard rate of $11.25 per...
6. In producing 12,400 units of product last period, Fern LTD. used 53,940 pounds of B,...
6. In producing 12,400 units of product last period, Fern LTD. used 53,940 pounds of B, costing $210,366. The company has established the standard of using 4.5 po Material B per unit of product, at a price of $4.00 per pound. Calculate the price, quantity, and total materials variances and indicate if they are favorable or unfavorable. Variance amount For U Price variance Quantity variance Total materials variance bolon benen nu amit avo 7. Goat Products has the following information...
please someone help me with these last 2 questions!! im so confused! Thank you guys so...
please someone help me with
these last 2 questions!! im so confused! Thank you guys so
much!!!!
We were unable to transcribe this imageSusan Williams runs a small Flagstaff job shop where garments are made. The job shop employs eight workers. Each worker is paid $10 per hour. During the first of March, each worker worked 40 hours. Together, they produced a batch of 132 garments. Of these garments, 52 were 'seconds' (meaning that they were flawed) seconds were sold...
Bargain, Inc. produced 1,000 units of the company's product in 2024. The standard quantity of direct...
Bargain, Inc. produced 1,000 units of the company's product in 2024. The standard quantity of direct materials was three yards of cloth per unit at a standard cost of $1.25 per yard. The accounting records showed that 2,800 yards of cloth were used and the company paid $1.30 per yard. Standard time was two direct labor hours per unit at a standard rate of $17.00 per direct labor hour. Employees worked 1,300 hours and were paid $16.00 per hour. Read...
The Port of Endover operates six berths and 12 cranes for loading and unloading freight containers...
The Port of Endover operates six berths and 12 cranes for
loading and unloading freight containers from ships, organized into
two areas known as the north terminal and the south terminalThe
Port of Endover’s north terminal contains two of the ship berths
and four of the cranes, which worked together almost continuously
last week, handling floading or unloading a total of containers
during 151 hours of operationSimilarly, the of the larger south
terminal operated together over 160 hours last week,...
Deluxe, Inc. produced 1,000 units of the company's product in 2018. The standard quantity of direct materials was three yards of cloth per unit at a standard cost of $1.10 per yard. The accounting records showed that 2,800 yards of cloth were used and the company paid $1.15 per yard. Standard time was two direct labor hours per unit at a standard rate of $11.25 perc as two direct labor hours per unit at a standard rate of $11.25 per...
6. In producing 12,400 units of product last period, Fern LTD. used 53,940 pounds of B, costing $210,366. The company has established the standard of using 4.5 po Material B per unit of product, at a price of $4.00 per pound. Calculate the price, quantity, and total materials variances and indicate if they are favorable or unfavorable. Variance amount For U Price variance Quantity variance Total materials variance bolon benen nu amit avo 7. Goat Products has the following information...
please someone help me with
these last 2 questions!! im so confused! Thank you guys so
much!!!!
We were unable to transcribe this imageSusan Williams runs a small Flagstaff job shop where garments are made. The job shop employs eight workers. Each worker is paid $10 per hour. During the first of March, each worker worked 40 hours. Together, they produced a batch of 132 garments. Of these garments, 52 were 'seconds' (meaning that they were flawed) seconds were sold...
Bargain, Inc. produced 1,000 units of the company's product in 2024. The standard quantity of direct materials was three yards of cloth per unit at a standard cost of $1.25 per yard. The accounting records showed that 2,800 yards of cloth were used and the company paid $1.30 per yard. Standard time was two direct labor hours per unit at a standard rate of $17.00 per direct labor hour. Employees worked 1,300 hours and were paid $16.00 per hour. Read...
The Port of Endover operates six berths and 12 cranes for
loading and unloading freight containers from ships, organized into
two areas known as the north terminal and the south terminalThe
Port of Endover’s north terminal contains two of the ship berths
and four of the cranes, which worked together almost continuously
last week, handling floading or unloading a total of containers
during 151 hours of operationSimilarly, the of the larger south
terminal operated together over 160 hours last week,...
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