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 5,000 Units, ending work in process (50% complete) 2,000 Total production costs $8,000 Required: 1. Prepare a physical flow schedule. If an amount is zero, enter "O". Fleming, Fleming, and Johnson Physical Flow Schedule Units to account for: Units in BWIP Units started Total units to account for Units accounted for: Units completed 9, Flemi Physical Flow Schedule Units to account for: Units in BWIP Units started Total units to account for Units accounted for: Units completed: From BWIP Started and completed Units in EWIP Total units accounted for Feedback Check My Work 1. A physical flow schedule shows the units to account for and what happened to them. 2. Prepare an equivalent units schedule. Fleming, Fleming, and Johnson 2. Prepare an equivalent units schedule. Fleming, Fleming, and Johnson Equivalent Units Schedule Units completed Units in EWIP x Fraction complete: Equivalent units Feedback Check My Work 2. The equivalent units schedule measures the output of the period. A fully completed unit is counted as a unit of output. Output for a unit in ending work in process is counted by its degree of completion. 3. What if EWIP is 80 percent complete? How would this change affect the physical flow schedule? The equivalent units schedule? Changing the degree of completion does not affect the physical flow schedule. However, the equivalent units schedule is affected. There would now be equivalent units for EWIP, increasing the total output for the period to