list on 1 on 2 tion 3 tion 4 stion 5 estion 6. estion 7 K Polar Vortec produces fleece jackets. The company uses JIT costing for its JIT production system. Polar Vortec has two inventory accounts: Raw and In-Process Inventory and Finished Goods Inventory. On March 1, the account balances were Raw and In-Process Inventory, $6,000; Finished Goods Inventory, $1,600. The standard cost of a jacket is $43, composed of $18 direct materials plus $25 conversion costs. Data for March's activities follow: (Click the icon to view the data.) Read the requirements. Question Viewer equirement 1. What are the major features of a JIT production system such as that of Polar Vortec? o me solve this Demodocs example Get more help Clear all Check answer Us correct: 0 (1) apter 4 Question 5, PM4-42B (similar to) Part 1 of 8 HW Score: 42.29%, 2.9 points Points: 0 of 1 Polar Vortec produces fleece jackets. The company uses JIT costing for its JIT production sys Kinventory accounts: Raw and In-Process Inventory and Finished Goods Inventory. On March 1 were Raw and In-Process Inventory, $6,000; Finished Goods Inventory, $1,600. The standard composed of $18 direct materials plus $25 conversion costs. Data for March's activities follow Data Tables Data table Number of jackets completed 18,000 at of Polar Vo Number of jackets sold (on account, for $100 each) 17,600 Direct materials purchased (on account) Conversion costs incurred $ 321,500 $545,000 Print Done this Demodocs example Get more help- Clear all Che C $ 54 MacBook Pro Search or type URL % 85 16 & 7 8 9 61 0 inventory accounts: Raw and In-Process Inventory and Finished Goods Inventory. On M were Raw and In-Process Inventory, $6,000; Finished Goods Inventory, $1,600. The sta composed of $18 direct materials plus $25 conversion costs. Data for March's activities Requirements - X 1. What are the major features of a JIT production system such as that of Polar Vortec? 2. Prepare summary journal entries for March. Underallocated or overallocated conversion costs are adjusted to Cost of Goods Sold monthly. 3. Use a T-account to determine the March 31, 2024, balance of Raw and In-Process Inventory. Print Done K Polar Vortec produces fleece jackets. The company uses JIT costing for its JIT production system. Polar Vort inventory accounts: Raw and In-Process Inventory and Finished Goods Inventory. On March 1, the account b were Raw and In-Process Inventory, $6,000; Finished Goods Inventory, $1,600. The standard cost of a jacket composed of $18 direct materials plus $25 conversion costs. Data for March's activities follow: BB (Click the icon to view the data.) Read the requirements. Requirement 1. What are the major features of a JIT production system such as that of Polar Vortec? Short setup times Broad employee roles Close coordination with suppliers to ensure on-time delivery of defect-free material Large stock of finished goods Long setup times Machines are grouped according to function Production activities arranged in self-contained work cells Products produced in large batches Products produced in small batches Short setup times emodocs tv C B A 12 nsw