Monday, January 12, 2009

Definition of quantity schedule

Accounting Definition of quantity schedule:

A quantity schedule summarizes and displays the physical flow of units produced through a department during an accounting period.

Its serves a company several mains purposes:
  • Quantity Schedules provide information about manufacturing activity within the specific department and shows the current stage of completion of in-process units
  • A Quantity Schedules provides the data required for calculating equivalent units and for preparing the other parts of the production report for a product and/or department

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