Managerial Accounting
Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Chapter 13, Problem 1DQ

What is the benefit of the lean philosophy?

Expert Solution & Answer
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To determine

Enlist the benefits of lean philosophy.

Explanation of Solution

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

The benefits of lean philosophy are as follows:

  • • Lean philosophy helps to reduce the cost involved in the production.
  • • Lean philosophy helps to minimize the waste involved in the production.
  • • Lean philosophy helps to optimize the value for the product or service.
  • • Lean philosophy helps to improve the quality in the production process.

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Chapter 13 Solutions

Managerial Accounting

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