What is product-costing information not used for in a JIT manufacturing environment?

Question

Quizplus · Accepted Answer

In a JIT (Just-In-Time) manufacturing environment, product-costing information is primarily used for internal decision-making processes such as pricing decisions, product profitability analysis, and make-or-buy decisions. However, valuing inventory for financial reporting purposes does not rely on the detailed product-costing information in the same way, as financial reporting often follows standardized accounting principles that may not reflect the granular cost details used in JIT decision-making.

What Is Product-Costing Information Not Used for in a JIT