Cost Savings from JIT Inventory Management Include(s)

question 68

Multiple Choice

Cost savings from JIT inventory management include(s)

• A)reduced overhead expenses.
• B)lower inventory financing costs.
• C)greater productivity.
• D)All of the options

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Definitions:

Net Pay

The amount of money received by an employee after all deductions have been made from the gross salary.

FICA Tax

Federal Insurance Contributions Act tax, which funds Social Security and Medicare, required to be paid by both employees and employers.

Federal Income Tax

A charge imposed by the United States federal government on the yearly income of individuals, corporations, trusts, and other legal bodies.

Withholding Allowance

Withholding allowance is an exemption that reduces how much income tax an employer deducts from an employee's paycheck, based on the number of allowances claimed.