Classify each activity as either value-added, Accounting Basics

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Classify each activity as either value-added

Dewey and Cheatam is a law firm that is initiating an activity-based costing system. Jim Dewey, 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 activity as either value-added or non-value-added.

Activity Hours

Writing contracts and letters 1.0 value-addednon-value-added
Attending staff meetings 0.5 non-value-addedvalue-added
Taking depositions 1.0 non-value-addedvalue-added
Doing research 1.0 value-addednon-value-added
Traveling to/from court 1.0 value-addednon-value-added
Contemplating legal strategy 1.0 non-value-addedvalue-added
Eating lunch 1.0 value-addednon-value-added
Litigating a case in court 2.5 value-addednon-value-added
Entertaining a prospective client 2.0 non-value-addedvalue-added

How much was value-added time?(Round answer to 1 decimal place, e.g. 10.5.)
How much was non-value-added?(Round answer to 1 decimal place, e.g. 10.5.)

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Accounting Basics: Classify each activity as either value-added

Reference No:- TGS0707099

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Recent Questions Asked Accounting Basics

Q : Discuss a condensed cost of goods manufactured schedule f

Q : Calculate the activity measures for the year ended december

Q : Analyzing the financial benefit from quality programs

Q : What method did you use to calculate your answer and why

Q : Classify each activity as either value-added

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Classify each activity as either value-added

Reference No:- TGS0707099

Recent Questions Asked Accounting Basics

Q : Discuss a condensed cost of goods manufactured schedule f

Q : Calculate the activity measures for the year ended december

Q : Analyzing the financial benefit from quality programs

Q : What method did you use to calculate your answer and why

Q : Classify each activity as either value-added

Q : How to record the admission of adam to the partnership

Q : Should the ashton processing center be shut down

Q : What effect would that have on the accounting system

Q : What is the integrity of internal controls

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