In a JIT Manufacturing System, the Parts Needed to Construct

question 140

True/False

In a JIT manufacturing system, the parts needed to construct a finished product are produced or arrive at the assembly site just when they are needed.

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Definitions:

Equipment Depreciation

The reduction in value of equipment over time due to wear and tear or obsolescence.

Supervisory Expense

Costs associated with managing and overseeing employees or departments, not directly tied to production or service delivery.

Overhead Costs

Expenses related to the day-to-day operations of a business that are not directly tied to the production of goods or services, such as rent, utilities, and administrative salaries.

Equipment Depreciation

The process of spreading out the cost of physical assets over their useful lives for accounting and tax purposes.