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Lasso and Markowitz is a law firm that is initiating an activity-based costing system. Sam Lasso, has prepared the following list of activities preformed by a typical attorney in a day at the firm. Activities & hours Writing contracts and letters 1.5 hrs attending staff meeting 0.5 hrs taking depositions 1.0 hrs doing research 1.0 hrs traveling 1.0 hrs contemplating legal strat. 1.0 hours eating 1.0 hrs litigating a case 2.5 hrs entertaining a prospective client 1.5 hrs Classify each of the activites listed by Sam as value added or non value added and DEFEND your classifications how much value added time and how much was non-value added?

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Accounting Basics, Accounting

Category:- Accounting Basics
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