Marion Forging Co Required:
Calculate the Total Factor Productivity Measure

Essay

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