Solved

Curly, Larry, and Moe Assessed the Home Security Systems of the Prestigious

question 44

Short Answer

Curly, Larry, and Moe assessed the home security systems of the prestigious Coney Island neighborhood by testing doorknobs and windows and slipping past security systems like a team of ghosts. They weren't ghosts, but they did wear white clothing to look like painters. This crew of daylight robbers hoped to grab cash, jewelry, and other valuables to fence at the next level of their supply chain. They knew the local police force was responsive, but a construction crew was creating a helpful distraction by working in the neighborhood, which completely drowned out the sounds of breaking glass. Details of the day's haul appear in the table below.
$\begin{array} { | l | c | c | c | } \hline \text { ITEM } & \begin{array} { c } \text { SALES } \\\text { PRICE }\end{array} & \text { LABOR } & \text { MATERIAL } \\\hline \text { Jewelry } & \$ 1,600 & 1 \mathrm { hr } & \$ 2 \\\hline \text { Flat screen TV } & \$ 200 & .25 & \$ 1 \\\hline \$ 500 \text { cash } & \$ 500 & .05 & \$ 40 \\\hline \text { Antiques } & \$ 600 & .15 & \$ 20 \\\hline \text { Rolex watches } & \$ 1,180 & .10 & \$ 1 \\\hline\end{array}$ The crew are paid at a flat rate of 20 percent of the sales price of the stolen goods. Materials cost represents the cost of gasoline, overalls, and surgical gloves, and overhead is 20 percent of the sales price of the stolen goods.
A) What is the labor productivity?
B) What is the multifactor productivity?

Definitions:

Remaining Cost

The costs that have not yet been incurred or allocated in the production of goods and services, often considered in future budgeting or cost analysis.

Accounting Estimate

An approximation of a financial statement element, item, or account in the absence of exact data, often involving judgment or assumptions.

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity.

Double-Declining-Balance Method

A method of accelerated depreciation that doubles the rate at which an asset's book value depreciates.