Marion Forging Co Required:
Calculate the Total Factor Productivity Measure

Essay

Marion Forging Co. has provided the following information for last year:
$$\begin{array} { l r l } \text { Tons of metal input } & 14,000 & @ \$ 10 / \text { ton } \\\text { Labor hours } & 5,000 & @ \$ 30 / \text { hour } \\\text { Overhead costs } & \$ 125,000 & \\\text { Tons of forging produced } & 10,000 & @ \text { selling price of } \$ 60 / \text { ton }\end{array}$$
Required:
Calculate the total factor productivity measure.