Kisses Company manufactures spray cans of insect repellent. On August 1, 2019, the company had 9,800 units in the beginning WIP Inventory that were 100 percent complete as to canisters, 60 percent complete as to other materials, 40 percent complete as to direct labor, and 20 percent complete as to overhead. During August, Kisses started 81,500 units in the manufacturing process. Ending WIP Inventory included 4,600 units that were 100 percent complete as to canisters, 40 percent complete as to other materials, 20 percent complete as to direct labor, and 10 percent complete as to overhead. Cost information for the month is as follows: Beginning WIP inventory: Canisters P 6,535 Other direct materials 6,174 Direct labor 6,431 Overhead 1,070 August costs: Canisters P 61,940 Other direct materials 86,793 Direct labor 81,189 Overhead 160,176 Required: Prepare a cost of production report of Kisses Company for August 2019 under: FIFO method
Kisses Company manufactures spray cans of insect repellent. On August 1, 2019, the company had 9,800 units in the beginning WIP Inventory that were 100 percent complete as to canisters, 60 percent complete as to other materials, 40 percent complete as to direct labor, and 20 percent complete as to
Beginning WIP inventory:
Canisters P 6,535
Other direct materials 6,174
Direct labor 6,431
Overhead 1,070
August costs:
Canisters P 61,940
Other direct materials 86,793
Direct labor 81,189
Overhead 160,176
Required: Prepare a cost of production report of Kisses Company for August 2019 under:
FIFO method
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