Question 3 - P - > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_brows turn 36253FreturnUrl%25309%25252Fwebapps25252FBb-McGrawHill-BB595a831 18bfle%25252Fapp%25252Funiversal JfGPIZ3AqobTbH8IRhbxs8K1mhikAkrbezOreg55Ewv60nabK16280QoKyk Project Three (Parts 1, 2 & 3) i Saved Help Save & Exit Submit Exercise 17-51 (Algo) Relevant Cost Analysis-Conversion to JIT; Spreadsheet Application [LO 17-1, 17-5] As part of its commitment to quality, the J. J. Borden manufacturing company is proposing to introduce just-in-time (JIT) production methods. Managers of the company have an intuitive feel regarding the financial benefits associated with a change to JIT, but they would like to have some data to inform their decision making in this regard. You are provided with the following data: 15 points Item Existing Situation After Adopting JIT Manufacturing costs as percentage of sales: Variable manufacturin Direct manufacturing other Financial Data: Inventory of WIP 50, 600 $ 1, 670, 060 2, 000 other Datai Inventory financing costs (per annum) 30 days Required: As the management accountant for the company, prepare an estimate the financial benefits associated with the adoption of JIT. Specifically, what is the estimated change in annual operating income attributable to the JIT implementation? Situation After JIT Change ss: Costs Operating profit Feb 26 5:02 1 6 9 8