The following data was taken from the records of the Dallylaang Manufacturing Company for the month of June: WIP, beginning – 7,500 units, ¼ complete, P10,400; WIP, end - 4,500 units, 2/5 complete; Placed in process - 75,000 units; Transferred out – 74,000 units. During the month, the company has used P198,708.75 worth of materials in production and spent P233,775 for conversion costs. Using the FIFO method, compute for the adjustment for lost units if

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Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.