Managerial accounting procedures developed for the manufacturing industry often are applied in non- manufacturing settings also. Ontario Bank and Trust Company's total output of financial services during the year just ended was valued at \($11\) million. The total cost of the firm's inputs, primarily direct labor and overhead, was \($10\) 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.