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

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

Step by Step Solution

★★★★★

3.39 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Raw and in process inventory is the inventory account in the ju... View full answer

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

Document Format (1 attachment)

Word file Icon

312-B-M-A-C-M (738).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

The Waynesboro Manufacturing Company uses a raw and in process (RIP) inventory account and expenses all conversion costs to the cost of goods sold account. At the end of each month, all inventories...

Q:

The Scottsville Manufacturing Company uses a raw and in process (RIP) inventory account and expenses all conversion costs to the cost of goods sold account. At the end of each month, all inventories...

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:

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

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:

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:

\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:

25) Pitt Jones Company had the following activities, allocated costs, and allocation bases: Activities Allocated Costs Allocation Base Account inquiry hours) $60,000 515000 20,000 accounts Account...

Q:

Discuss how global distribution channels differ from domestic channels.

Q:

Go to the Global EDGE resource desk and identify three international business resources recommended for statistical sources.

Q:

The term used to describe the speed of a network connection. For example, someone may state, my is 1 0 M b p s .

Q:

Mars, Inc. manufactures and sells VCRs on credit directly to wholesalers, retailers, and consumers. Mars can perfect its security interest in the VCRs it sells without having to file a financing...

Q:

AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible then poured into molds to produce the castings. On May 1, there were 230...

Q:

Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking...

Q:

Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking...

Q:

Which of the following best describes operating activity as shown in statement of cash flows? a. includes transactions affecting capitazaltion of business. b. includes transactions that primarly...

Q:

The velocity in a pipe in a turbulent flow can be expressed by the following equation u = 5 . 6 7 [ ] 1 2 Where u is in ( f t s ) , is in ( l b f f t 2 ) , and is in ( l b f t 3 ) . If the equation...

Q:

Dunn Sporting Goods sells athletic clothing and footwear to retail customers. Dunn's accountant indicates that the firm's operating cycle averages 6 months. At December 31, 2013, Dunn has the...