estion 15 points In an effort to improve its competitive position, J.J. Borden Company recently introduced Just-in-Time (JIT) production techniques. Its management accountant assembled the following data regarding the recent changes 30 Item Prior to JIT AMer JT implementation Production cycle time days days Inventory level $ 160,000 $ 40,000 Total sales $ 1.200.000 $1,700.000 Estimated cost data. W of sales Direct materials "30% 26 Direct labor 22% 15% Variable overhead 10% Fixed overhead Inventory carrying cost is estimated as 150% per year Required: 1. Estimate the net financial benefit (expressed in terms of the change in operating income) that the company realized from the switch to IT manufacturing 2. Ust four (4) nonfinancial benefits the company might expect as a result to its move to JIT. 3. Listwo (2) expected costs of implementing a JIT system? estion 15 points In an effort to improve its competitive position, J.J. Borden Company recently introduced Just-in-Time (JIT) production techniques. Its management accountant assembled the following data regarding the recent changes 30 Item Prior to JIT AMer JT implementation Production cycle time days days Inventory level $ 160,000 $ 40,000 Total sales $ 1.200.000 $1,700.000 Estimated cost data. W of sales Direct materials "30% 26 Direct labor 22% 15% Variable overhead 10% Fixed overhead Inventory carrying cost is estimated as 150% per year Required: 1. Estimate the net financial benefit (expressed in terms of the change in operating income) that the company realized from the switch to IT manufacturing 2. Ust four (4) nonfinancial benefits the company might expect as a result to its move to JIT. 3. Listwo (2) expected costs of implementing a JIT system