Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 20 - Inventory Management, Just-in-Time, and Simplified Costing Methods - Assignment Material - Questions - Page 795: 20-12

Answer

JIT production features include manufacturing cells, multi-skilled workers, TQM, reduced setup time and cycle time, and quality suppliers. Benefits comprise lower costs, improved quality, faster delivery, and simplified accounting. However, stockouts are a potential cost due to production disruptions.

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