Med-Tech labs is a facility that provides medical tests and evaluations for patients ranging from analyzing blood samples to performing MRI’s. Average cost to patients is $60 per patient. Labor costs average $15 per patient, material costs are $20 per patient, and overhead costs are averaged at $20 per patient.
a.) what is the mutifactor productivity ratio for med-tech? What does your finding mean?
b.) if the average lab worker spends three hours for each patient, what is the labor productivity ratio?
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