George Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of 3% increase in productivity per year? He has the following data representing a month from last year and an equivalent month this year:
|
|
LAST YEAR
|
NOW
|
|
Units produced
|
1,000
|
1,000
|
|
Labor (hours)
|
300
|
275
|
|
Resin (pounds)
|
50
|
45
|
|
Capital invested ($)
|
10,000
|
11,000
|
|
Energy (8 TU)
|
3,000
|
2,850
|
Show the productivity percentage change for each category and then determine the improvement for labor-hours, the typical standard for comparison.