Yes that is right MG, you cancel as you go. You do not have to deal with numbers bigger than necessary that way.
(Oh you said so the sum, sum is addition, you meant, do the multiplication, or find the product. It is just a technicality but it is important to use the right words, especially in mathematics
)
Plus it will tie in with algebra better too. Please do it closer to my way :)
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Here is one that I will make up off the top of my head.
Do it the easiest way, with lots of cancelling. NO Calculator, except at the end to check you answer
(use the forum calc so I can see and try to make the forum calc display it as I have done, or as near as you can).
Do you remember how to divide by a fraction? Change it into an improper fraction first and then turn the one you are dividing by upside down (take the reciprocal of the divisor) and change the divide sign to a multiply sign.
Happy calculations 
$$\\34\frac{1}{8}\times \frac{14}{51}\div 1\frac{15}{34}$$
OH did you enjoy the popcorn. I want some too !!! 