Indicate whether each of the following statements is true or false. 1. Just-in-time processing is also known as just-in-case processing.
1. Just-in-time processing is also known as just-in-case processing.
2. Companies that use just-in-time processing complete finished goods just in time to be sold.
3. A major benefit of just-in-time processing is enhanced product quality.
4. An ABC system is similar to conventional costing systems in accounting for period costs but differs in regard to manufacturing costs.
5. The primary benefit of ABC is significant reduction or elimination of manufacturing inventories.
6. In recent years, the amount of direct labor used in many industries has greatly decreased and total overhead costs have significantly increased.
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Step by Step Answer:
Chapter # 21- Process Costing
Section: DO IT! Review
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: September 20, 2011 07:34:31