Question:
A factory produces two products P and Q. P takes 10 hours to produce and Q requires 16 hours as per the budget. Budgeted production for the month is 600 units of P and 250 units of Q. A month has 25 budgeted days of 8 hours each. During the month, 500 units of P and 400 units of Q were produced. The factory employs 50 workers. They actually worked for 9 hours daily for 24 days.
Calculate: (i) Efficiency ratio; (ii) Activity ratio; (iii) Capacity ratio; and (iv) Calendar ratio.