(a) Concept introduction: The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock. The reasons for implement a JIT system.

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Answer 1

Question

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

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Companies enjoy many benefits of using JIT. Which is not a benefit of adopting JIT? Ability to respond quickly to changes in customer demand Lower inventory carrying costs Ability to continue production despite disruptions in deliveries of raw materials More space available for production

Retailers need merchandise to make sales. In fact, a retailer’s inventory is its biggest asset. Not stocking enough merchandise can result in lost sales, but carrying too much inventory increases costs and lowers margins. Both circumstances reduce profits. One measure of a reseller’s inventory management effectiveness is its stockturn rate (also called inventory turnover rate for manufacturers). The key to success in retailing is realizing a large volume of sales on as little inventory as possible while maintaining enough stock to meet customer demands. Refer to Appendix 2: Marketing by the Numbers, and determine the stockturn rate of a retailer carrying an average inventory at cost of $350,000, with a cost of goods sold of $800,000. If this company’s stockturn rate was 3.5 last year, is the stockturn rate calculated above better or worse? Explain.

Keeping track of inventory and keeping carrying costs down. How do you think those issues would influence warehousing decisions? What might retailers do to reduce warehouse space and increase inventory accountability?

Answer 2

Question

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Expert Solution & Answer

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See solution

Answer 4

Question

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Answer 6

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

Answer 7

Chapter 4, Problem 17E

To determine

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

Answer 8

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

Answer 9

To determine

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

Answer 10

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

Answer 11

To determine

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

Answer 12

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Answer 13

To determine

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 4 - What is the difference between a volume-based cost...Ch. 4 - Explain the statement that traditional costing...Ch. 4 - Prob. 3Q Ch. 4 - How does activity-based costing differ from...Ch. 4 - What types of business might use activity-based...Ch. 4 - Prob. 6Q Ch. 4 - Prob. 7Q Ch. 4 - Prob. 8Q Ch. 4 - Why must costs be classified into different...Ch. 4 - Prob. 10Q

(a) Concept introduction: The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock. The reasons for implement a JIT system.

Solution Summary: The author explains that just is time is a system whose objective is to produce goods as they are required by customers or for use, rather than for stock.

Videos

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.

Want to see the full answer?

Chapter 4 Solutions

(a) Concept introduction: The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock. The reasons for implement a JIT system.

Solution Summary: The author explains that just is time is a system whose objective is to produce goods as they are required by customers or for use, rather than for stock.

Videos

(a) Concept introduction: The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock. The reasons for implement a JIT system.

(b) Concept introduction: The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock. To compute: The potential benefits of JIT systems.

(c) Concept introduction: The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock. The potential negative consequences of using a JIT system.

(d) Concept introduction: In Just in time, we purchase the raw martial when we required. Whether potential benefits outweigh the possible cost.

Want to see the full answer?

Chapter 4 Solutions

(a)

Concept introduction:

The ‘just is time’ is a system whose objective is to produce goods as they are required by a customer or for use, rather than for stock.

The reasons for implement a JIT system.

(b)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

To compute:

The potential benefits of JIT systems.

(c)

Concept introduction:

The just is time is a system whose objective is to produce or to be products as they are required by a customer or for use, rather than for stock.

The potential negative consequences of using a JIT system.

(d)

Concept introduction:

In Just in time, we purchase the raw martial when we required.

Whether potential benefits outweigh the possible cost.