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Lothrop Consulting Group is a small firm that offers services to two business segments: not - for - profits ( NFPs ) and Corporate clients.
Lothrop Consulting Group is a small firm that offers services to two business segments: notforprofits NFPs and Corporate clients. Lothrop's business model is to rely to a great extent on nonemployee consultants called "advisors" who are paid on an hourly basis. Lothrop is planning to expand operations into international markets and is concerned that its reporting system might need improvement. The master budget income statement for the company's latest quarter follows in thousands NFP Corporate Total Sales revenue $ $ $ Costs Advisor compensation $ $ $ Miscellaneous expenses Travel Equipment rental Advertising Depreciation Lease cost Salaries Total costs $ $ $ Operating profit $ $ $ The company uses the following performance report for management evaluation: Lothrop Consulting Group Net Income for the Quarter $ Actual Results NFP Corporate Total Budget Over or Under Budgeta Sales revenue $ $ $ $ $ Costs Advisor compensationb $ $ $ $ $ Miscellaneous expensesb Travelb Equipment rentalb Advertising Depreciation Lease cost Salaries Total costs $ $ $ $ $ Operating profit $ $ $ $ $Lothrop Consulting Group is a small firm that offers services to two business segments: notforprofits NFPs and Corporate clients. Lothrop's business model is to rely to a great extent on nonemployee consultants called "advisors" who are paid on an hourly basis. Lothrop is planning to expand operations into international markets and is concerned that its reporting system might need improvement. The master budget income statement for the company's latest quarter follows in thousands tableNFPCorporate,TotalSales revenue,$$$
Lothrop Consulting Group is a small firm that offers services to two business segments: notforprofits NFPs and Corporate clients. Lothrop's business model is to rely to a great extent on nonemployee consultants called "advisors" who are paid on an hourly basis. Lothrop is planning to expand operations into international markets and is concerned that its reporting system might need improvement. The master budget income statement for the company's latest quarter follows in thousands
NFP Corporate Total
Sales revenue $ $ $
Costs
Advisor compensation $ $ $
Miscellaneous expenses
Travel
Equipment rental
Advertising
Depreciation
Lease cost
Salaries
Total costs $ $ $
Operating profit $ $ $
The company uses the following performance report for management evaluation:
Lothrop Consulting Group
Net Income for the Quarter $
Actual Results NFP Corporate Total Budget Over or Under Budgeta
Sales revenue $ $ $ $ $
Costs
Advisor compensationb $ $ $ $ $
Miscellaneous expensesb
Travelb
Equipment rentalb
Advertising
Depreciation
Lease cost
Salaries
Total costs $ $ $ $ $
Operating profit $ $ $ $ $Lothrop Consulting Group is a small firm that offers services to two business segments: notforprofits NFPs and Corporate clients. Lothrop's business model is to rely to a great extent on nonemployee consultants called "advisors" who are paid on an hourly basis. Lothrop is planning to expand operations into international markets and is concerned that its reporting system might need improvement. The master budget income statement for the company's latest quarter follows in thousands
tableNFPCorporate,TotalSales revenue,$$$
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