Change in Labor ProductivityLarry's Auto Body Repair Shop had revenues that averaged $45211.34 per week in April and $57769.25 per week in May. Assume four weeks per month. During both months, the shop employed six full-time (40 hours/week) workers. In April the firm also had four part-time workers working 25 hours per week, but in May there were only 2 part-time workers and they only worked 10 hours per week.
Part a:
Calculate the labor productivity in April. [$/hr]
Locally stored answer: Part b:
Calculate the labor productivity in May. [$/hr]
Locally stored answer: Part c:
What is the percentage change in labor productivity from April to May for Larry's Auto Body Repair?
Locally stored answer: