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Compute for the adjustment for lost units

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Question - The following data was taken from the records of the Daily 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 the normal loss occurred at the end of processing.

Reference no: EM133053312

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