Fleming, Fleming, and Johnson, a local CPA firm, provided the following data for individu 6.3 returns...

 

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Fleming, Fleming, and Johnson, a local CPA firm, provided the following data for individu 6.3 returns processed for March (output is measured in number of returns): Units, beginning work in process Units started 6,000 Units completed Units, ending work in process (50% complete) Total production costs 5,000 1,000 $5,500 Required: 1. Prepare a physical flow schedule 2. Prepare an equivalent units schedule. Explain why output is measured in equivalent und 3. What if EWIP is 80 percent complete? How would this change affect the physical a schedule? The equivalent units schedule? Fleming, Fleming, and Johnson, a local CPA firm, provided the following data for individu 6.3 returns processed for March (output is measured in number of returns): Units, beginning work in process Units started 6,000 Units completed Units, ending work in process (50% complete) Total production costs 5,000 1,000 $5,500 Required: 1. Prepare a physical flow schedule 2. Prepare an equivalent units schedule. Explain why output is measured in equivalent und 3. What if EWIP is 80 percent complete? How would this change affect the physical a schedule? The equivalent units schedule?

Answer rating: 100% (QA)

1 Physical Flow Schedule Units to Account for Units in Opening WIP 0 Units Started 6000 To... View the full answer