The joint venture, IM Flash (Intel-Micron Flash Technologies), has a large flash memory fab in Lehi, Utah. Their monthly design capacity is 62,690 wafers, whereas the effective capacity is 60,700 wafers. They regularly produce 58,650 wafers per month.

1. What is the plant's efficiency rate?
- Write your answer as a percentage.
- Round your answer to two decimal places.

2. What is the plant's utilization rate?
- Write your answer as a percentage.
- Round your answer to two decimal places.

The efficiency rate of the plant can be calculated by dividing the actual production by the effective capacity. Therefore, the efficiency rate of the IM Flash plant is:

Efficiency rate = (actual production / effective capacity) x 100%
Efficiency rate = (58,650 / 60,700) x 100%
Efficiency rate = 96.62%

Therefore, the plant's efficiency rate is 96.62%.

The utilization rate of the plant can be calculated by dividing the actual production by the design capacity. Therefore, the utilization rate of the IM Flash plant is:

Utilization rate = (actual production / design capacity) x 100%
Utilization rate = (58,650 / 62,690) x 100%
Utilization rate = 93.58%

Therefore, the plant's utilization rate is 93.58%.

To summarize, the IM Flash plant has an efficiency rate of 96.62% and a utilization rate of 93.58%. These rates indicate that the plant is operating close to its effective and design capacity, and there is potential to increase production to meet market demands.

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