Multifactor productivity ratio for Medlabs

  Medlabs is a facility that provides laboratory tests and evaluations for patients, ranging from analyzing blood samples to performing magnetic resonance imaging (MRI). Average cost to patients is $70 per patient. Labor costs average $15 per patient, materials costs are $25 per patient, and overhead costs are averaged at $20 per patient. • What is the multifactor productivity ratio for Medlabs? What does your finding mean? • If the average lab worker spends three hours for each patient, what is the labor productivity ratio?