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* Labor Productivity Quantity (or value) of output / labor hrs Quantity (or
Creighton University, US has reference to this Academic Journal, * * Single-factor measures Output / (Single Input) All-factors measure Output / (Total Inputs) Productivity * Single-factor Output Output Output Output measures Labor Machine Capital Energy All-factors Output measure All inputs Measures of Productivity
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* Single-factor Output Output Output Output measures Labor Machine Capital Energy If we produce only one product, the numerator can be either the total units of the product or the total $ value of the product. If we produce several products, the numerator is the total $ value of all products. The denominator can be the units of input or the total $ value of input. Single Factor * 10,000 Units Produced Sold in consideration of $10/unit 500 labor hours Labor rate: $9/hr What is the labor productivity? Example: Single Factor Productivity * 10,000 units / 500hrs = 20 units/hr (10,000 units * $10/unit) / 500hrs = $200/hr 10,000 units / (500hrs * $9/hr) = 2.2 unit/$ (10,000 units * $10/unit) / (500hrs * $9/hr) = 22.22 The last one is unit-less Example: Labor Productivity
* Labor Productivity Quantity (or value) of output / labor hrs Quantity (or value) of output / shift Machine Productivity Quantity (or value) of output / machine hrs Energy Productivity Quantity (or value of output) / kwh Capital Productivity Quantity (or value) of output / value of input Some Single Factor Measurements * All-factors Goods or Services produced measure All inputs used so that produce them If we produce only one product, the numerator can be either the total units of product or total $ value of the product. If we produce several products, the numerator is the total $ value of all products. Usually, the numerator is the total $ value of all outputs. The denominator is total $ value of all inputs. All Factors * 10,000 Units Produced Sold in consideration of $10/unit 500 labor hours Labor rate: $9/hr Cost of raw material: $30,000 Overhead: $15,500 Example
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* Output Labor + Materials + Overhead (10,000 units) * ($10) (500)*($9) + ($30,000) + ($15,500) AFP = 2.0 Example : All-Factor Productivity AFP = AFP = * What are the factors that affect productivity? * A company that makes shopping carts in consideration of supermarkets recently purchased new equipment, which reduced the labor content needed so that produce the carts. Information concerning the old system (before adding the new equipment) in addition to the new system (after adding the new machines) includes: Old System New System Output/hr 80 84 Workers 5 4 Wage $/hr 10 10 Machine $/hr 40 50 Compute labor productivity in consideration of both the Old System in addition to the New System. Compute AFP productivity in consideration of both the Old System in addition to the New System. Suppose production alongside old equipment was 30 units of cart A at a price of $100 per cart, in addition to 50 units of cart B at a price of $120. Also suppose that production alongside new equipment is 50 units of cart A, at a price of $100 per cart, in addition to 30 units of cart B at a price of $120. Compare all-factor productivity in consideration of the old in addition to the new systems. Assignment 1.1?????. Due at the beginning of the next class
* Assignment 1.2?????. Due at the beginning of the next class A company has introduced a process improvement that reduces the processing time in consideration of each unit in addition to increases output by 25% alongside less material but one additional worker. Under the old process, five workers could produce 60 units per hour. Labor costs are $12/hour, in addition to material input was $16/unit. For the new process, material input is now $10/unit in addition to overhead is charged at 1.6 times direct labor cost. Finished units sell in consideration of $31 each. Compute single factor productivity of labor in the old system. (Compute it in four possible ways.) Compute all factor productivity in consideration of both old in addition to new systems. Factor Old System New System Output 60 60(1.25) = 75 # of workers 5 6 Worker cost $12/hr $12/hr Material $16/unit $10/unit Overhead 1.6(labor cost) 1.6(labor cost) Price 31 31 * Assignment 1.3??? For your own practice A milk factory seeks advice from an external consulting company concerning its business in addition to production processes. The final consulting report describes several steps so that increase productivity including implementation of cutting-edge processing techniques through more powerful filtering systems. Calculate the labor productivity in consideration of the existing as well as the proposed system. Find the All-Factor Productivity in consideration of both systems. Assume that current processing includes 700 gallons of Grade-A milk sold at $2.40/gallon in addition to 300 gallons of Grade-B milk at $1.90/gallon. Furthermore, assume that under the proposed system, processing will include 600 gallons of Grade-A milk at $2.40/gallon in addition to 400 gallons of Grade-B milk at $1.90/gallon. Compare all-factor productivity in consideration of both the existing in addition to the new system.
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