Which of the following is a major difference between the just-in-time (JIT) and traditional approaches to manufacturing? The JIT approach usually involves many suppliers while traditional approaches usually involve only a small number of suppliers. The JIT approach operates with low inventory levels while traditional approaches may operate with high inventory levels. The JIT approach uses a push-through system while traditional approaches use a pull- through system The JIT approach requires centralized purchasing while traditional approaches encourage purchasing decisions by production employees.

Which of the following is a major difference between the just-in-time (JIT) and traditional approaches to manufacturing? The JIT approach usually involves many suppliers while traditional approaches usually involve only a small number of suppliers. The JIT approach operates with low inventory levels while traditional approaches may operate with high inventory levels. The JIT approach uses a push-through system while traditional approaches use a pull- through system The JIT approach requires centralized purchasing while traditional approaches encourage purchasing decisions by production employees.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following statements is false? A. The departmental and traditional costing methods create cost distortions when there is significant costs associated with batch activities. B. The manufacturing overhead is applied to product by applying the POHR to actual cost drivers that occur during the production period C. The activity based costing system provides the most accurate product costing results D. Actual manufacturing overhead costs and the actual cost driver amounts are used to create the predetermined overhead rate (POHR)
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A system of accounting for production operations that provides managers with information to control cost and set selling prices is called?