Question: Why do lean manufacturers use a raw and in process inventory account, rather than separately reporting materials and work in process?

Why do lean manufacturers use a raw and in process inventory account, rather than separately reporting materials and work in process?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Why do just-in-time manufacturers use a raw and in process inventory account, rather than separately reporting materials and work in process?

Q:

1. What is the benefit of the lean philosophy? 2. How is supply chain management different from traditional supplier and customer relationships? 3. Why do lean manufacturers use a "raw and in process...

Q:

1. How is supply chain management different from traditional supplier and customer relationships? 2. Why do lean manufacturers use a "raw and in process inventory" account, rather than separately...

Q:

Why do lean manufacturers use a "raw and in process inventory" account, rather than separately reporting materials and work in process?

Q:

1. Two projects have an identical net present value of $5,000. Are both projects equally desirable? Why or why not? 2. Why would the average rate of return differ from the internal rate of return for...

Q:

Why is a raw and in process inventory account used by just-in-time manufacturers, rather than separately reporting materials and work in process?

Q:

1) In process costing, the cost object is the process or department, and in job order costing, the cost object is a job. TRUE OR FALSE 2) In a process costing system, the purchase of raw materials on...

Q:

\X'hy is a raw and in process inventory'" account used by just-in-time manufac turers, rather than separately reporting materials and work in process? AppendixLO1

Q:

(a) Calculate the total cost of each of the four jobs worked on in December CC723 CH291 PS812 DS444 Total Cost $ (b) Calculate the total manufacturing cost for December Total manufacturing cost (c)...

Q:

Chapter 27, needing completed by November 30, 2016 on excel please. (NO TEACHERS KEY PLEASE) Chapter 27 PE 27-2A: Lean features Which of the following are features of a lean manufacturing system? a....

Q:

Assume that your cousin Matilda Flores manages a local glass shop that was recently bought by a company that produces custom picture frames. As a result, Matilda will soon be providing glass to the...

Q:

Julia Company can produce two types of carpet cleaners, the Brighter and Smarter. The data on the two machines is as follows: Brighter Smarter Total Sales units 200 300 500 Price $ 750 $ 1,000 Sales...

Q:

What is an important assumption of International Fisher Effect?A ) Real interest rate is the same across different countries.B ) Nominal interest rate is the same across different countries.C )...

Q:

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...