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

Question:

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

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

Step by Step Answer:

Related Book For book-img-for-question

Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

See More Books

Question Posted: May 22, 2017 10:01 AM

See More Questions

Why do just-in-time manufacturers use a raw and in process inventory account, rather than separately reporting materials and work in process?
Why is a raw and in process inventory account used by just-in-time manufacturers, rather than separately reporting materials and work in process?
Why do lean manufacturers favor pull or "make to order" manufacturing?
How many objects are eligible for garbage collection at the end of the main() method? A. None. B. One. C. Two. D. Three. E. The code does not compile. F. None of the above. package store; public...
On January 1, 2012, Roosevelt Company purchased 12% bonds, having a maturity value of $500,000, for $537,907.40. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2012,...
Integrative Cases 3 - 8 1 ( Static ) Financial Modeling ( LO 3 - 1 , 2 , 3 , 4 , 5 ) Three entrepreneurs were looking to start a new brewpub near Sacramento, California, called Roseville Brewing...
Why is a corporations income said to be taxed twice? AppendixLO1
List A contains the COBIT 4.1 domains, List B contains the 10 COBIT 4.1 processes, and List C contains 20 specific controls plans (there are two plans listed for each process). Each list is in...
Galaxy Ltd acquired 80% of the share capital of Moon Ltd on 1 July 2012. The following equity balances appeared in the records of Moon Ltd at the date of acquisition: Share capital (210,000 shares)...
For this assignment you will be creating a Python script to lookup phone numbers in a data file given a user-provided last name, or a first and last name. The script should look up all entries in the...
Why would a lean manufacturer strive to produce zero defects?
a. Using the information in Exercise 15, identify the cost of quality classification for each activity. b. Prepare of cost of quality report. Assume sales for the period were $4,000,000. (Round...
In problem, determine algebraically whether each function is even, odd, or neither. g(x) = -3x 3 - 5
Suppose youre applying a simulated annealing algorithm to a certain problem, where T is the parameter that measures the tendency to accept the current candidate to be the next trial solution. You...
Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with comparative data for the year ended December 31, 2021. From the statement of cash flows...
Assume, further, that the acquisition was consummated on October 1, 2024, as described above. However, by the end of 2025, Ayayai was concerned that the fair values of one or both of the acquired...
You have been asked to prepare a brief presentation on a criminological topic or issue of interest to you. Go to the Bureau of Justice Statistics (BJS) Publications & Products Overview page (See link...
Sparta Fashions owns four clothing stores, where it sells a wide range of women's fashions, from casual attire to formal wear. In addition, it rents formal wear and gowns for special occasions. At...
Greg Brown is reviewing the results of the review of subsequent cash receipts. There are several receipts listed from customers that were considered doubtful at the end of the year (30 June). Greg is...
A horizontal annulus with inside and outside diameters of 8 and 10 cm, respectively, contains liquid water. The inside and outside surfaces are maintained at 40 and 20oC, respectively. Calculate the...
How does the sales mix affect the calculation of the break-even point?
What behavioral problems are associated with establishing conflicting goals within the budget?
What behavioral problems are associated with establishing conflicting goals within the budget?
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...

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

Question:

Step by Step Answer:

The raw and in process inventory account combines the materials ...View the full answer

Financial And Managerial Accounting

Students also viewed these Managerial Accounting questions