Case 2:

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:

a. Weighted average method

b. FIFO method