What is the role for process costing in a Just-in- Time (JIT) production environment, where working-process inventories

Question:

What is the role for process costing in a Just-in- Time (JIT) production environment, where working-process inventories are negligible? For example, at any given point in time a JIT plant might only have 2 hours worth of production in process.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial accounting

ISBN: 978-0471467854

1st edition

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

See More Books

Question Posted: Feb 20, 2013 09:56 AM

See More Questions

What is the role played by an ETFs authorized participants?
In your own words, define courage. What is the role of courage in leadership? Give examples of acts of leadership you consider courageous.
What is the role of an economic geologist?
QUESTION 5 Directions: Passage B is the story of a childs first Halloweenparade. Read the passage carefully. Answer the questions thatfollow. Passage B I am six years old. It is Halloween. The school...
15. F(x) = 7x - 9 17. G(t) = 8 - 3t
Laura Eddy opened Eddys Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,000 cash in the business. 1 Purchased used truck for $6,000, paying...
In a transactional data, what is the effect of aggregating similar items into a broader product category? a. Item granularity does not matter as one can simply adjust the minimum support threshold....
Consider the following research questions or hypotheses. What variables need to be measured in each? a. Do consumers who spend more time and are more committed to Facebook spend more money at...
Warren Co . , located in Canada, purchased raw materials from a supplier in US for $ 8 5 , 0 0 0 US on June 1 6 , 2 0 2 2 on credit with payment date as October 1 6 , 2 0 2 2 . Warren Co . prepares...
Gallup News Service conducted a survey of 1017 American adults aged 18 years or older, September 4-7, 2014. The respondents were asked, "Of every tax dollar that goes to the federal government in...
Why is process costing suitable for a soft drink company but not well suited for a firm that makes luxury yachts?
Why do we need process costing in industries that produce large batches of goods but not in firms that make their products in small batches?
What is mutual agency and why is it risky?
The following statements are about investment companies and the Investment Company Act of 1940. Select the answer choice containing the correct statement. An insurance company that is primarily...
1.00 kilogram of liquid water at 50.0 C is converted completely to ice at -50.0 C . What is the change in entropy for the water. (Answer in kJ/K with correct sign)?
(1) Explain what is absolute advantage and what is comparative advantage? (2) Using the information given in the table to demonstrate the pattern of advantages between the two countries for the two...
a) Discuss the issue affecting the corporate workplace related to poor work-life balance. b) Identify, interpret, and diagnose appropriate organizational needs that require development and change...
Consider shares of common stock in Widgets, Inc. Suppose that the last dividend paid out to shareholders was $3.00 (Do = $3), the risk-free interest rate is 2%, and that the expected risk premium for...
Write each number given in Problems 1930 as a binary numeral. 64
5. Convert the following ERD to a relational model. SEATING RTABLE Seating ID Nbr of Guests Start TimeDate End TimeDate RTable Nbr RTable Nbr of Seats RTable Rating Uses EMPLOYEE Employee ID Emp...
Belles and Bradlyn (1987) conducted a smoking cessation study using a ________ design. a multiple baseline across subjects b A- B- A- B reversal c changing criterion d factorial
The following selected transactions were completed during June between Salinas Company and Brokaw Company: June 2. Salinas Company sold merchandise on account to Brokaw Company, $20,000, terms FOB...
Figg Inc. has fixed costs of $420,000. The unit selling price, variable cost per unit, and contribution margin per unit for the companys two products are provided below. Product .Selling...
Golub Company has fixed costs of $100,000. The unit selling price, variable cost per unit, and contribution margin per unit for the companys two products are provided below. Product.Selling...
1. What is difference between Torque and Force? Explain with one example of each. 2. What is difference between linear momentum and angular momentum? Explain with one example of each. 3(a) What is...
On August 30, JumpStart paid the following expenses: August rent, $2,300 August's utility bill, $525 Employee wages, $1,750 Parking lot cleaning fee, $27 Journalize these payments as one journal...
A 700 g ball strikes a wall at 15.1 m/s and rebounds at 14.4 m/s. The ball is in contact with the wall for 0.034 s. What is the magnitude of the average force acting on the ball during the collision?...

What is the role for process costing in a Just-in- Time (JIT) production environment, where working-process inventories

Question:

Step by Step Answer:

In a JIT inventory environment which has minimal wo...View the full answer

Managerial accounting

Students also viewed these Managerial Accounting questions