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 Other direct materials Direct Labor Overhead August Costs: Canisters Other direct materials Direct Labor P P 6,535 6,174 6,431 1,070 61,940 86,793 81,189 Overhead 160,176 Required: Prepare a cost of production report of Kisses Company for August 2019 under: 1. Weighted average 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 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 Other direct materials Direct Labor Overhead August Costs: Canisters Other direct materials Direct Labor P P 6,535 6,174 6,431 1,070 61,940 86,793 81,189 Overhead 160,176 Required: Prepare a cost of production report of Kisses Company for August 2019 under: 1. Weighted average method

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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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…
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