Managerial accounting procedures developed for the manufacturing industry often are applied in nonmanufacturing settings also. Ontario Bank and Trust Company’s total output of financial services during the year just ended was valued at SI0 million. The total cost of the firm’s inputs, primarily direct labor and overhead. was 58 million.
Required:
1. Compute Ontario’s aggregate (or total) productivity for the year.
2. Do you believe this is a useful measure? Why? Suggest an alternative approach that Ontario Bank and Trust might use to measure productivity.
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