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For these products, Raw materials account for a large part of the total cost. The core tenet of just-in-time management is eliminating all waste, including time-wasting. Your employees need to understand why you are moving to just-in-time inventory. So if JIT is so good and obviously saves money, why doesn’t every company go the lean […]

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Help the company accountant calculate the expected factory overhead cost in March 2019 using the high-low method. Such a cost function may be used in budgeting to estimate the total cost at any given level of activity, assuming that past performance can reasonably be projected into future. This technique provides a simple and straightforward way […]