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artcher [175]
2 years ago
12

A retail store had sales of $46,000 in April and $55,800 in May. The store employs eight full-time workers who work a 40-hour we

ek. In April the store also had six part-time workers at 9 hours per week, and in May the store had seven part-timers at 13 hours per week (assume four weeks in each month). Using sales dollars as the measure of output, what is the percentage change in productivity (dollars output per labor hour) from April to May
Business
1 answer:
Rudiy272 years ago
4 0

Answer:

The percentage change in productivity (dollars output per labor hour) from April to May is 10.37%.

Explanation:

This can be calculated using the following 3 steps:

Step 1. Calculation of productivity in April

Sales in April = $46,000

Total full-time hours worked in April = 40 * 8 * 4 = 1,280

Total part-time hours worked in April = 9 * 6 * 4 = 216

Total hours worked in April = Total full-time hours worked in April + Total part-time hours worked in April = 1,496

Productivity in April = Sales in April / Total hours worked in April = $46,000 / 1,496 = $30.75 per hour

Step 2. Calculation of productivity in May

Sales in May = $55,800

Total full-time hours worked in May = 40 * 8 * 4 = 1,280

Total part-time hours worked in May = 13 * 7 * 4 = 364

Total hours worked in May = Total full-time hours worked in May + Total part-time hours worked in May = 1,644

Productivity in May = Sales in May / Total hours worked in May = $55,800 / 1,644 = $33.94 per hour

Step 3. Calculation of percentage change in productivity (dollars output per labor hour) from April to May

Percentage change in productivity = ((Productivity in May - Productivity in April) / Productivity in May) * 100 = (($33.94 - $30.75) / $30.75) * 100 = 10.37%

Therefore, the percentage change in productivity (dollars output per labor hour) from April to May is 10.37%.

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Look at Exercise 19.2. Compute the opportunity costs of producing sweaters and wine in both France and Tunisia. Who has the lowe
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Answer:

Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.

Explanation:

Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.

Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.

The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.

Ex : Production Possibilities

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France          10                   5              1:0.5  or 2:1

Tunisia          8                   24              1:3  or 0.33:1

  • France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia  [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
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Haskins Products sells 2,000 kayaks per year at a sales price of $470 per unit. Haskins sells in a highly competitive market and
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Answer:

target fixed​ costs is $ 420000

Explanation:

Given data

sells 2,000

sales price of $470 per unit.

product cost at $720,000

variable costs are $300,000

to find out

target fixed​ costs

solution

we know here product cost and variable cost

so target fixed​ costs is product cost - variable costs

so we put all these value to find out target fixed cost

target fixed​ costs = product cost - variable costs

target fixed​ costs = 720000 - 300000

target fixed​ costs is $ 420000

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