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Managerial Accounting: The Corners...
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Physical Flow Schedule
Golding Inc. just finished its second month of operations. Golding mass-produces integrated circuits. The following production information is provided for December:
Required:
Prepare a physical flow schedule.
Prepare physical flow schedule of Company GI.
Physical Flow Schedule:
The schedule which is made with the objective to determine the production of physical units is known as physical flow schedule. It considers all units in process which can be related to any completion stage.
Prepare physical flow schedule of Company GI:
| Physical Flow Schedule | |
| Units accounted For: | Units |
| Units in BWIP | 160,000 |
| Units started during the period | 720,000 |
| Total units account for | 880,000 |
| Â | Â |
| Units completed and transferred out: | Â |
| Started and completed | 600,000 |
| From beginning work in process | 160,000 |
| Units in EWIP | 120,000 |
| Total units accounted for | 880,000 |
Table (1)
Therefore, the units accounted for and units account for are 880,000units. The amount of both parts should be equal.
Working Note:
1...
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