Calculate Lead Time Flint Fabricators Inc. machines metal parts for the automotive industry. Under the traditional...

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Calculate Lead Time Flint Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufactur

Lean Accounting Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The com

c. Journalize the summary transactions (1)-(4) for March Raw and In Process Inventory 75,440 Accounts Payable Raw and In Proc

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Answer 1

Answer #1

Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and just-in-time manufacturing methods. If required, round percentages to one decimal place.
	Traditional Philosophy	Just-in-Time Philosophy
Value-added time	13	13
Non-value-added-time	841	39
Total lead time	854	52
Value-added ratio(as a percent)	1.52%	25.00%

Traditional Philosophy
	Value-added time	Non-value-added-time	Total lead time
Processing time (5 minutes (milling) + 8 Minutes (finishing)	13		13
Within-batch wait time = 13 min. x (65 - 1)		832	832
Move time		9	9
Total (minutes)	13	841	854
Value-added ratio = value added lead time/Total Lead time
Value-added ratio = 13/854 min	1.52%

Just-in-Time Philosophy
	Value-added time	Non-value-added-time	Total lead time
Processing time (5 minutes (milling) + 8 Minutes (finishing)	13		13
Within-batch wait time = 13 min. x (4 - 1)		39	39
Move time		0	0
Total (minutes)	13	39	52
Value-added ratio = value added lead time/Total Lead time
Value-added ratio = 13/52 min	25.00%

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