Martin Manufacturing Has Implemented Several Programs to Improve Its Productivity

Essay

Martin Manufacturing has implemented several programs to improve its productivity. They have asked you to evaluate the firm's productivity by comparing this year's performance with last year's. The following data are available:
$$\begin{array} { | l | l | l | } \hline & \text { Last Year } & \text { This Year } \\\hline \text { Output } & 10,500 \text { units } & 12,100 \text { units } \\\hline \text { Labor Hours } & 12,000 & 13,200 \\\hline \text { Utilities } & \$ 7,600 & \$ 8,250 \\\hline \text { Capital } & \$ 83,000 & \$ 88,000 \\\hline\end{array}$$
Has Martin Manufacturing improved its productivity during the past year?