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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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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:

Chapter 6, Problem 25BEA, Physical Flow Schedule Golding Inc. just finished its second month of operations. Golding

Required:

Prepare a physical flow schedule.

To determine

Prepare physical flow schedule of Company GI.

Explanation

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 BWIP160,000
Units started during the period720,000
Total units account for880,000
  
Units completed and transferred out: 
Started and completed600,000
From beginning work in process160,000
Units in EWIP120,000
Total units accounted for880,000

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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