Melbourne Inc Required:
Calculate the Total Factor Productivity Measure

Essay

Melbourne Inc. ,has provided the following information for last year: $$\begin{array} { | l | r | l | } \hline \text { Pounds of input } & 42,000 & @ \$ 18 \text { pound } \\\hline \text { Labor hours } & 11,000 & @ \$ 24 \text { hour } \\\hline \text { Overhead costs } & \$ 187,000 & \\\hline \begin{array} { l } \text { Units of output } \\\text { produced }\end{array} & 33,000 & \begin{array} { l } @ \text { selling price of } \\\$ 60 \text { unit }\end{array} \\\hline\end{array}$$
Required:
Calculate the total factor productivity measure.