Prepare a vertical analysis for Westwood Corporation by completing the right column of the following balance sheet with the appropriate percentages. Round percentages to the nearest one-tenth percent.
Definitions:
Direct Costs
Costs that can be directly attributed to the production of specific goods or services.
Indirect Costs
Costs that are not directly attributable to a specific product or service but are necessary for the business to operate, such as utility expenses or salaried personnel.
Management Process
A systematic approach to planning, organizing, leading, and controlling a company's activities to achieve objectives.
Continuous Improvement
An ongoing effort to improve products, services, or processes by making small, incremental improvements over time.
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