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Physical Flow and Equivalent Units with EWIP Fleming, Fleming, and Johnson, a local CPA firm, provided...

Physical Flow and Equivalent Units with EWIP Fleming, Fleming, and Johnson, a local CPA firm, provided the following data for individual returns processed for March (output is measured in number of returns): Units, beginning work in process — Units started 7,000 Units completed 5,200 Units, ending work in process (50% complete) 1,800 Total production costs $5,500 Required: 1. Prepare a physical flow schedule. If an amount is zero, enter "0".

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Answer #1

Prepare physical flow schedule

Units to be accounted for
Beginning WIP 0
Unit started 7000
Total units to be accounted for 7000
Units accounted for
Unit transferred out 5200
Ending WIP 1800
Total units accounted for 7000
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