Required:1. Compute the unit cost of the product before and after JIT.2. Explain

Required:1. Compute the unit cost of the product before and after JIT.2. Explain why the JIT unit cost is more accurate. Also explain what JIT features may have produced a decrease in production costs. Use as many specific cost items as possible to illustrate your explanation.3. Explain why Homer Manufacturing switched from a job-order costing system to a process-costing system after JIT was implemented.4. Classify the costs in the JIT environment according to how they are assigned to the cell: direct tracing driver tracing or allocation. Which cost assignment method is most common? What does this imply regarding product costing accuracy?