Information About Beagle Corporation Is as Follows What Is the Materials Productivity Ratio for 2018? (Round the c

question 117

Multiple Choice

Information about Beagle Corporation is as follows: $$\begin{array} { l c r } & 2018 & 2019 \\\text { Output (units) } & 59,000 & 63,000 \\\text { Selling price per unit } & \$ 32 & \$ 36 \\& & \\\text { Input quantities: } & & \\\text { Materials (pounds) } & 3,100 & 3,500 \\\text { Labor (hours) } & 1,800 & 1,925 \\& & \\\text { Input prices: } & & \\\text { Materials (per pound) } & \$ 8.00 & \$ 9.50 \\\text { Labor (per hour) } & \$ 9.00 & \$ 10.00\end{array}$$ What is the materials productivity ratio for 2018? (Round the answer to two decimal places.)

• A)16.86
• B)19.03
• C)32.73
• D)18.00

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where demand and supply are equal.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain period.

Relatively Inelastic

A situation where a change in the price of a good or service causes a comparatively smaller change in the quantity demanded or supplied.