Brown and Davis is a law firm that is initiating an activity-based costing system. Sam Brown, the senior partner and strong supporter of ABC, has prepared the following list of activities performed by a typical attorney in a day at the firm. Classify each of the activities listed by Sam Brown as value-added or non-value-added. Activities Writing contracts and letters Attending staff meetings Taking depositions Doing research Traveling to/from court Contemplating legal strategy Eating lunch Litigating a case in court Entertaining a prospective client Value-added time Hours 1.42 0.49 Non-value-added 0.95 1.03 1.01 1.10 1.02 2.57 1.60 hours < < hours < < < How much was value-added time? (Round answer to 2 decimal places, e.g. 2.13.) < < > How much was non-value-added time? (Round answer to 2 decimal places, e.g. 2.13.)

Brown and Davis is a law firm that is initiating an activity-based costing system. Sam Brown, the senior partner and strong supporter of ABC, has prepared the following list of activities performed by a typical attorney in a day at the firm. Classify each of the activities listed by Sam Brown as value-added or non-value-added. Activities Writing contracts and letters Attending staff meetings Taking depositions Doing research Traveling to/from court Contemplating legal strategy Eating lunch Litigating a case in court Entertaining a prospective client Value-added time Hours 1.42 0.49 Non-value-added 0.95 1.03 1.01 1.10 1.02 2.57 1.60 hours < < hours < < < How much was value-added time? (Round answer to 2 decimal places, e.g. 2.13.) < < > How much was non-value-added time? (Round answer to 2 decimal places, e.g. 2.13.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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